Sale of 1620 L Street in Washington, D.C. closed by HFF

WASHINGTON, D.C. – The Washington, D.C. office of HFF (Holliday Fenoglio Fowler, L.P.) has closed the sale of 1620 L Street, (top right photo) a 164,079-square-foot Class A office building in Washington, D.C.

The HFF investment sales team was led by executive managing director Stephen Conley,(middle left photo) managing director Andrew Weir (bottom right photo) and director Daniel McIntyre who exclusively represented the seller, a joint-venture between TIAA-CREF and Equity Office.

The John Buck Company purchased the property for an undisclosed amount. HFF also secured acquisition financing on behalf of The John Buck Company.

1620 L Street is situated in downtown Washington, D.C. within walking distance of four Metro Stations, Farragut Park, as well as being proximate to the intersection of Connecticut Avenue and K Street, the “main and main” intersection of the District.

The 12-story property is 97% leased to tenants including the U.S. Bureau of Land Management, MetLife, Cresa Partners, the National Association of Independent Schools and Liberty Mutual.

“The Washington, D.C. office market continues to attract institutional capital given the stabilizing effects of the U.S. government,” said Conley. “The property’s location in the heart of the nation’s capital places the new owner in an ideal position to capture upside value over the next five to seven years.”

TIAA-CREF (http://www.tiaa-cref.org/) is a national financial services organization and the leading provider of retirement services in the academic, research, medical and cultural fields with $420 billion in combined assets under management (3/31/08).

Equity Office is one of the nation’s largest owners of office buildings with over 50 million square feet in major markets across the country. Equity Office is owned by an affiliate of The Blackstone Group, a leading global private equity firm that is listed on the New York Stock Exchange under ticker symbol BX.

Founded in 1981, The John Buck Company offers comprehensive real estate services in the areas of development, finance, investment brokerage, fund management, project leasing, tenant representation, marketing and management, as well as construction for commercial, mixed-use and residential properties.

The international, employee-owned firm is headquartered in Chicago. For additional information on The John Buck Company, please visit the company’s website at http://www.tjbc.com/.

CONTACTS:

Stephen C. Conley, HFF Executive Managing Director, 202 533 2500, sconley@hfflp.com

Andrew M. Weir, HFF Managing Director, 202 533 2504, aweir@hfflp.com

Laurie Fish McDowell, HFF Associate Director, Marketing, 617 338 0990, lmcdowell@hfflp.com