19
Jan
German investor to make $250M buy in downtown D.C.
German reinsurance firm Munich Re has struck a deal to buy the Washington Building a block from the White House for $250 million, the latest sign that foreign interest in D.C. real estate remains strong after the area dropped in standing on a highly watched an annual survey.
Cushman & Wakefield brokered the building’s sale, which comes out to around $1,168 per square foot, on behalf of its owner, an affiliate of Clarion Partners. Munich RE was advised in the deal by D.C.-based developer EastBanc.…
Source: Arizona Business Journal
