{"id":1004080947,"date":"2013-07-28T21:00:35","date_gmt":"2013-07-29T05:00:35","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=153082"},"modified":"2020-04-21T02:32:46","modified_gmt":"2020-04-21T10:32:46","slug":"d-c-s-washington-harbour-sells-to-south-korean-investors","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/d-c-s-washington-harbour-sells-to-south-korean-investors\/","title":{"rendered":"D.C.\u2019s Washington Harbour Sells to South Korean Investors"},"content":{"rendered":"

By Adrian Maties, Associate Editor<\/em><\/p>\n

D.C.\u2019s Washington Harbour has a new owner. \"\"<\/a>Principal Real Estate Investors acquired the asset for a consortium of South Korean investors advised by Simone Investment. Holliday Fenoglio Fowler L.P. represented the seller, a joint venture between Rockpoint Group and MRP Realty, and announced the closing of the sale on July 22.<\/p>\n

The deal was first announced by the Korea IT Times<\/a><\/em> at the end of May. According to the Korean journal, the price of the transaction is estimated at 400 billion won, or around $360 million, making it the region\u2019s largest commercial real estate sale so far this year. MRP Realty and Rockpoint Group paid $245 million to acquire the property in 2010.<\/p>\n

The 557,961-square-foot Washington Harbour mixed-use development is located along the Potomac River in D.C.’s Georgetown submarket. Designed by Arthur Cotton Moore, it consists of two freestanding, Class A towers 96 percent leased to 26 tenants, including the law firms of Foley & Lardner and Kelley Drye & Warren, as well as communications and advertising firm GMMB Inc.<\/p>\n

The two towers recently underwent a $50 million renovation, including the addition of a fountain and improved retail and exterior space. Retailers include Fiola Mare, Farmers Fishers Bakers, Bangkok Joe’s, Sequoia, Tony & Joe’s Seafood Place and Nick’s Riverside Grill.<\/p>\n

The fountain features programmable light and water shows during spring and summer; it can be transformed into a skating rink during the fall and winter months. At 12,000 square feet, the Washington Harbour Ice Rink is the largest outdoor rink in the city.<\/p>\n

Principal Real Estate Investors and Hana Daol Fund Management have been selected to manage the property.<\/p>\n

Photo credit:<\/em> www.facebook.com\/TheWashHarbour<\/em><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

D.C.’s Washington Harbour has a new owner. Principal Real Estate Investors acquired the asset for a consortium of South Korean investors advised by Simone Investment. Holliday Fenoglio Fowler represented the seller, a joint venture between Rockpoint Group and MRP Realty, and announced the closing of the sale on July 22.<\/p>\n","protected":false},"author":925,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21742,1615],"tags":[1815],"class_list":["post-1004080947","post","type-post","status-publish","format-standard","hentry","category-latest","category-washington-dc","tag-national"],"acf":[],"yoast_head":"\nD.C.\u2019s Washington Harbour Sells to South Korean Investors - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/d-c-s-washington-harbour-sells-to-south-korean-investors\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"D.C.\u2019s Washington Harbour Sells to South Korean Investors\" \/>\n<meta property=\"og:description\" content=\"D.C.’s Washington Harbour has a new owner. 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