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| Army and Navy Club Building, 17th and Eye Streets NW, Washington, DC |
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| Stephen Conley |
WASHINGTON, D.C. – HFF announced it has closed the $79
million sale of The Army and Navy Club Building, a 108,000-square-foot,
Class A office property located on the northeast corner of 17th and Eye
Streets, NW overlooking Farragut Square in the heart of the Central Business
District (“CBD”) of Washington, D.C.
HFF exclusively represented the seller, Beacon Capital
Partners, in the transaction.
Washington Real Estate Investment Trust (WRIT) (NYSE: WRE) purchased the
property for $79 million contingent to existing debt.
The HFF investment sales team representing the seller was
led by executive managing director Stephen Conley, senior managing
directors Jim Meisel, Dek Potts and Andrew Weir, and associate director Matt
Nicholson.
WRIT is a self-administered, self-managed, equity real
estate investment trust investing in income-producing properties in the greater
Washington metro region.
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| Jim Meisel |
WRIT owns a diversified portfolio of 53 properties totaling
approximately seven million square feet of commercial space and 2,890
residential units, and land held for development.
These 53 properties consist of 24 office properties, 16
retail centers and 13 multifamily properties.
WRIT shares are publicly traded on the New York Stock Exchange (NYSE:
WRE).
Kristen M. Murphy
Associate Director
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873
| www.hfflp.com
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