HFF closes sale of Jefferson Building in Washington, D.C.

WASHINGTON, D.C. – The Washington, D.C. office of HFF (Holliday Fenoglio Fowler, L.P.) announced today it has closed the sale of the Jefferson Building, (top right photo) a 72,756-square-foot, eight-story office building in Washington, D.C.

The HFF investment sales team was led by senior managing directors Dek Potts, (top left photo) Jim Meisel, (bottom right photo) and director Andy Pulliam who marketed the property on behalf of the seller, BlackRock Realty.

INVESCO Real Estate purchased the property for an undisclosed amount free and clear of debt.

Located at 1225 19th Street NW, the Jefferson Building is situated within the Golden Triangle Business Improvement District of Washington, D.C. with easy access to Connecticut and Massachusetts Avenues, K Street and Rock Creek Parkway as well as Dupont Circle Metro Station and Farragut North Metrorail Station.

The 93% leased property was most recently renovated in 2007 and has parking for 64 cars in a two-level underground parking garage.

“This boutique asset has enjoyed an excellent occupancy history due to its prominent corner location with windows on all four sides as well as 9,350-square-foot floor plates, which have attracted small law firms and associations.

"In addition, The Palm, the building’s landmark restaurant, recently expanded and renewed its lease,” said Potts.

BlackRock is one of the world’s largest publicly traded investment management firms.

As of September 30, 2008, BlackRock’s assets under management were $1.259 trillion. The firm manages assets on behalf of institutions and individuals worldwide through a variety of equity, fixed income, cash management and alternative investment products. For additional information, please visit the firm's website at www.blackrock.com.

INVESCO is a leading independent global investment management company, dedicated to helping their clients build their financial security. INVESCO provides a comprehensive array of enduring investment solutions for retail, institutional and high-net-worth clients around the world.

Operating in 20 countries, the company is listed on the New York Stock Exchange under the symbol IVZ. Additional information is available at http://www.invesco.com/.

Contacts:
James A. Meisel, HFF Senior Managing Director, (202) 533-2500, jmeisel@hfflp.com
Stephen "Dek" Potts Jr., HFF Senior Managing Director, (202) 533-2500,
dpotts@hfflp.com
Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500,
krmurphy@hfflp.com