Brookfield Asset Management Takes DC Retail and Office Portfolio from WashREIT
Posted on 06/16/2021
On June 14, 2021, Washington Real Estate Investment Trust (WashREIT) sold 12 assets at a contract sale price of US$ 766 million. The aggregate deposit amount is approximately US$ 46 million.
The twelve assets in the Office Portfolio are as follows:
1.515 King Street – 515 King Street, Alexandria, Virginia 22314
2.Courthouse Square – 510 & 526 King Street, Alexandria, Virginia 22314
3.1600 Wilson Boulevard – 1600 Wilson Boulevard, Arlington, Virginia 22209
4.Fairgate at Ballston – 1005 North Glebe Road, Arlington, Virginia 22101
5.Arlington Tower – 1300 North 17th Street, Arlington, Virginia 22209
6.Silverline Center – 7900 Westpark Drive, Tysons, Virginia 22209
7.1901 Pennsylvania Avenue – 1901 Pennsylvania Avenue, NW, Washington, DC 20006
8.1220 19th Street – 1220 19th Street, NW, Washington, DC 20036
9.2000 M Street – 2000 M Street, NW, Washington, DC 20036 (leasehold interest)
10.1140 Connecticut Avenue – 1140 Connecticut Avenue, NW, Washington, DC 20007
11.Army Navy Building – 1627 Eye Street, NW, Washington, DC 20006
12.1775 Eye Street – 1775 Eye Street, NW, Washington, DC 20006
The buyer is BPG Acquisitions, LLC, a Delaware limited liability company of Brookfield Property Group (Brookfield Asset Management Inc.).
WashREIT is doing its multi-year strategic transformation into a multifamily REIT.
Green Bond
In April, WashREIT announced an expansion of its Green Bond Framework for eligible green projects, including eight multifamily assets acquired in 2019.