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| 1100 G Street Rendering, Washington, DC |
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| Stephen Conley |
WASHINGTON,
D.C., May 18, 2018 – Holliday Fenoglio
Fowler, L.P. (HFF) announces the $54 million sale of and the
$25 million financing of 1100 G Street, an approximately
110,000-square-foot office building in the East End submarket of Washington,
D.C.
The HFF team
marketed the property on behalf of the seller, an investor account advised by
UBS Asset Management, and procured the buyer, a joint venture between Meritage
Properties and a Japanese private investor advised and represented by Tokyo
Trust Capital Ltd.
Additionally, the HFF team placed a five-year, floating-rate
acquisition loan on behalf of the buyer.
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| Jim Meisel |
1100 G Street is
situated at the corner of 11th and G Streets in the East End,
Washington, D.C.’s largest and strongest performing submarket.
The institutional-quality office building is
within walking distance of four Metrorail stations – Metro Center, Gallery
Place-Chinatown, Federal Triangle and McPherson Square. The building also has
direct vehicular access via 11th Street to major thoroughfares,
including New York and Pennsylvania Avenues; K Street; Interstates 66, 395 and
695 and the George Washington Parkway.
Additionally, 1100 G Street is surrounded by more than three
million square feet of retail amenities at Gallery Place, Chinatown, Penn
Quarter, CityCenterDC and more.
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| Andrew Weir |
The HFF investment
advisory team representing the seller included Stephen Conley, Jim Meisel,
Andrew Weir, Matt Nicholson and Dave Baker.
HFF’s debt placement
team representing the borrower consisted of Dan McIntyre and Jay Graham.
“1100 G Street falls
squarely within our strategy of acquiring well-located urban office properties
that can benefit from the kind of hands-on renovation and repositioning that
has become the hallmark of the Meritage brand,” said Meritage CEO Andy
Nathan.
“Having focused many of our efforts over the
past several years in the greater Boston market, we are pleased to be joining
with Tokyo Trust and its investor client on this exciting new opportunity in
D.C.”
For more information, please contact:
KRISTEN MURPHY
HFF Director, Public Relations
(617) 338-0990
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