{"id":1004121856,"date":"2015-06-23T08:52:39","date_gmt":"2015-06-23T16:52:39","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=353434"},"modified":"2020-04-29T09:07:55","modified_gmt":"2020-04-29T17:07:55","slug":"australiansuper-buys-stake-in-d-c-office-portfolio","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/australiansuper-buys-stake-in-d-c-office-portfolio\/","title":{"rendered":"AustralianSuper Buys Stake in D.C. Office Portfolio"},"content":{"rendered":"<p style=\"text-align: justify;\"><em>By Adrian Maties, Associate Editor<\/em><\/p>\n<p style=\"text-align: justify;\"><a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/06\/2570.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-medium wp-image-353442\" title=\"2570\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/06\/2570.jpg\" alt=\"77 K Street, Washington, D.C.\" width=\"300\" height=\"253\" \/><\/a>AustralianSuper, one of Australia\u2019s largest pension funds, continues to expand its overseas portfolio of properties. The company recently took a large stake in an eight-building office portfolio in Washington, D.C.<\/p>\n<p style=\"text-align: justify;\">Last week, Brookfield Property Partners L.P., one of the world&#8217;s largest commercial real estate companies and the owner of the portfolio, announced that the sale of a 49 percent stake in the eight D.C. office buildings to\u00a0the Australian company. The properties were valued at\u00a0$1.32 billion. Net proceeds raised by Brookfield totaled $349 million.<\/p>\n<p style=\"text-align: justify;\">The eight-property portfolio totals 2.2 million square feet of space. It includes five assets located in D.C.\u2019s East End submarket: 1400 K St., 1200 K St., the Victor Building, 650 Massachusetts Ave. and 799 Ninth St. The remaining office buildings are 1250 Connecticut Ave. in the city\u2019s Central Business District, 77 K St. in NOMA and the Bethesda Crescent in Bethesda. Brookfield will continue to manage and handle leasing responsibilities for the properties. The company lists the portfolio as 96 percent occupied.<\/p>\n<p style=\"text-align: justify;\">&#8220;We continue to see healthy demand from investment partners in core, stabilized office properties in major markets, and took this opportunity to bring AustralianSuper into Washington, D.C., as part of our ongoing capital recycling initiative,&#8221; Ric Clark, CEO of Brookfield, said in a statement for the press. &#8220;We are committed to maintaining our presence in Washington and are pleased with our growing relationship with AustralianSuper.&#8221;<\/p>\n<p style=\"text-align: justify;\">Jack McGougan, head of property at AustralianSuper, added that &#8220;this transaction allows AustralianSuper to substantially increase its direct holdings in offshore property, in line with its strategy of investing in established assets with strong long-term growth potential.&#8221;<\/p>\n<p style=\"text-align: justify;\"><em>Photo credit: <a href=\"https:\/\/brookfieldofficeproperties.com\/\" target=\"_blank\" rel=\"nofollow\">Brookfield Property Partners<\/a><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>AustralianSuper, one of Australia&rsquo;s largest pension funds, continues to expand its overseas portfolio of properties. The company has recently taken a large stake in an eight-building office portfolio in Washington, D.C.<\/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":[],"class_list":["post-1004121856","post","type-post","status-publish","format-standard","hentry","category-latest","category-washington-dc"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>AustralianSuper Buys Stake in D.C. Office Portfolio - 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\/australiansuper-buys-stake-in-d-c-office-portfolio\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"AustralianSuper Buys Stake in D.C. Office Portfolio\" \/>\n<meta property=\"og:description\" content=\"AustralianSuper, one of Australia&rsquo;s largest pension funds, continues to expand its overseas portfolio of properties. 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