{"id":1004203983,"date":"2018-01-17T02:16:45","date_gmt":"2018-01-17T10:16:45","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004203983"},"modified":"2022-12-08T16:23:32","modified_gmt":"2022-12-09T00:23:32","slug":"frances-axa-investment-snags-165m-office-asset-in-dc","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/frances-axa-investment-snags-165m-office-asset-in-dc\/","title":{"rendered":"France\u2019s AXA Investment Snags $165M Office Asset in DC"},"content":{"rendered":"<p>By Barbra Murray<\/p>\n<div id=\"attachment_1004203984\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/1401-New-York-Ave..jpg\" target=\"_blank\" rel=\"noopener noreferrer\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004203984\" data-attachment-id=\"1004203984\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/frances-axa-investment-snags-165m-office-asset-in-dc\/1401-new-york-ave\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/1401-New-York-Ave..jpg\" data-orig-size=\"1000,800\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"1401 New York Ave. in Washington, D.C.\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;1401 New York Ave. in Washington, D.C.&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/1401-New-York-Ave..jpg?w=1000\" class=\"wp-image-1004203984 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/1401-New-York-Ave..jpg\" alt=\"1401 New York Ave. in Washington, D.C.\" width=\"300\" height=\"240\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/1401-New-York-Ave..jpg 1000w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/1401-New-York-Ave..jpg?resize=300,240 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/1401-New-York-Ave..jpg?resize=768,614 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004203984\" class=\"wp-caption-text\">1401 New York Ave. in Washington, D.C.<\/p><\/div>\n<p>Paris-based AXA Investment Managers &#8211; Real Assets has snapped up a prime piece of the Washington, D.C., office market on behalf of a client. In a joint venture with Stewart Investment Partners, the real assets investment and management firm purchased a majority stake in the 210,000-square-foot trophy property at 1401 New York Ave., NW, for $165 million.<\/p>\n<p>The sellers were Heitman LLC and Minshall Stewart Properties, the latter of which is the predecessor firm of Stewart, which was spun out from Minshall following the closing of the office transaction. History has its advantages. In a prepared statement, Aaron Kutner, Head of U.S. Acquisitions at AXA IM &#8211; Real Assets, said the company will capitalize on <em>\u201cleveraging [Stewart\u2019s] significant experience of both this asset specifically and the local market with the aim to maximize the value of this investment for the benefit of our clients.\u201d<\/em><\/p>\n<p>Developed by real estate services company Akridge, 1401 New York sprouted up on the former site of the National Food Processors Association in the East End submarket in 1983. The 12-story tower last traded in 2013, when Heitman and Minshall scooped it up for $95 million.<\/p>\n<p>Also featuring 8,800 square feet of street-level retail space, the LEED Gold-certified property was most recently renovated in 2016. AXA has high hopes for the office destination. <em>\u201c1401 New York Avenue\u2019s close proximity to the White House, floor to ceiling window line, rooftop terrace and market leading amenity set is expected to positively position the property to outperform the market and deliver strong long-term investment results,\u201d<\/em> Kutner said.<\/p>\n<p>AXA is no stranger to the D.C. office market. The company made its most recent purchase in the area in October 2017, grabbing a majority interest in the 367,000-square-foot Montgomery Tower in Bethesda, Md., for $139.8 million. However, it\u2019s not just the nation\u2019s capital that\u2019s high on AXA\u2019s radar; the company has been busy acquiring assets across the country. In October the company bought a 264,000-square-foot <a href=\"https:\/\/www.commercialsearch.com\/news\/jv-buys-fedex-office-hq-in-metro-dallas\/\">office property in Dallas<\/a>.<\/p>\n<h2>Simply irresistible<strong>\u00a0<\/strong><\/h2>\n<p>AXA is just one company among a sea of global real estate investors that find themselves practically powerless to resist the U.S. real estate market. Results of a new survey by the Association of Foreign Investors in Real Estate indicate that 58 percent of international real estate players still consider the U.S. the most stable country in the world for investment. And a full 86 percent of survey participants revealed that they expect to maintain or increase their investment activity in the U.S. in 2018.<\/p>\n<p>Per the AFIRE survey, respondents attribute their enthusiasm for the U.S. market to several strengths, including the country\u2019s <em>\u201cstrong, stable economy, transparent capital markets, and reputation for innovation.\u201d<\/em><\/p>\n<p>Cross-border transactions in the last few months of 2017 include South Korean investment firm LA Hana OW LLC\u2019s acquisition of the 460,000-square-foot <a href=\"https:\/\/www.commercialsearch.com\/news\/griffin-sells-dreamworks-animations-socal-hq-for-290m\/\">DreamWorks Headquarters<\/a>\u00a0and Studio Campus in Glendale, Calif., for $290 million. Chinese investment and development firm Beijing Ideal Group purchased One Newark Center, a 423,000-square-foot building in Newark, N.J.\u00a0 Canada\u2019s Bentall Kennedy, acting on behalf of Kuwait-based Warba Bank K.S.C.P., acquired a 223,000-square-foot single-tenant building in the Denver suburb of Englewood, Colo. And the list goes on.<\/p>\n<p><em>Image courtesy of Yardi Matrix<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Paris-based real estate assets investment and management firm acquired the 210,000-square-foot trophy property in a joint venture with Stewart Investment Partners. <\/p>\n","protected":false},"author":969,"featured_media":1004203984,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21808,21783,11,21742,21747,1615],"tags":[38432,35298,33276,38881],"class_list":["post-1004203983","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-featured","category-investment","category-midatlantic","category-latest","category-office","category-washington-dc","tag-axa-investment-managers","tag-axa-real-estate-investment-managers","tag-heitman","tag-minshall-stewart-properties"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>France\u2019s AXA Investment Snags $165M Office Asset in DC - 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\/frances-axa-investment-snags-165m-office-asset-in-dc\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"France\u2019s AXA Investment Snags $165M Office Asset in DC\" \/>\n<meta property=\"og:description\" content=\"The Paris-based real estate assets investment and management firm acquired the 210,000-square-foot trophy property in a joint venture with Stewart Investment Partners.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/frances-axa-investment-snags-165m-office-asset-in-dc\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2018-01-17T10:16:45+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T00:23:32+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/1401-New-York-Ave..jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1000\" \/>\n\t<meta property=\"og:image:height\" content=\"800\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Barbra Murray\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/frances-axa-investment-snags-165m-office-asset-in-dc\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/frances-axa-investment-snags-165m-office-asset-in-dc\/\",\"name\":\"France\u2019s AXA Investment Snags $165M Office Asset in DC - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/frances-axa-investment-snags-165m-office-asset-in-dc\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/frances-axa-investment-snags-165m-office-asset-in-dc\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/1401-New-York-Ave..jpg\",\"datePublished\":\"2018-01-17T10:16:45+00:00\",\"dateModified\":\"2022-12-09T00:23:32+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/d1edda962dd3af55af8a203870f9fc32\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/frances-axa-investment-snags-165m-office-asset-in-dc\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/frances-axa-investment-snags-165m-office-asset-in-dc\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/frances-axa-investment-snags-165m-office-asset-in-dc\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/1401-New-York-Ave..jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/1401-New-York-Ave..jpg\",\"width\":1000,\"height\":800,\"caption\":\"1401 New York Ave. in Washington, D.C.\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/frances-axa-investment-snags-165m-office-asset-in-dc\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.commercialsearch.com\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"France\u2019s AXA Investment Snags $165M Office Asset in DC\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/d1edda962dd3af55af8a203870f9fc32\",\"name\":\"Barbra Murray\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/9a36d5070adb56de135886aa49db0452b319180ff050dbd70770fd33a3e63774?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/9a36d5070adb56de135886aa49db0452b319180ff050dbd70770fd33a3e63774?s=96&d=mm&r=g\",\"caption\":\"Barbra Murray\"},\"url\":\"https:\/\/www.commercialsearch.com\/news\/author\/barbra-murray\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"France\u2019s AXA Investment Snags $165M Office Asset in DC - Commercial Property Executive","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commercialsearch.com\/news\/frances-axa-investment-snags-165m-office-asset-in-dc\/","og_locale":"en_US","og_type":"article","og_title":"France\u2019s AXA Investment Snags $165M Office Asset in DC","og_description":"The Paris-based real estate assets investment and management firm acquired the 210,000-square-foot trophy property in a joint venture with Stewart Investment Partners.","og_url":"https:\/\/www.commercialsearch.com\/news\/frances-axa-investment-snags-165m-office-asset-in-dc\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2018-01-17T10:16:45+00:00","article_modified_time":"2022-12-09T00:23:32+00:00","og_image":[{"width":1000,"height":800,"url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/1401-New-York-Ave..jpg","type":"image\/jpeg"}],"author":"Barbra Murray","twitter_card":"summary_large_image","twitter_creator":"@cpexecutive","twitter_site":"@cpexecutive","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.commercialsearch.com\/news\/frances-axa-investment-snags-165m-office-asset-in-dc\/","url":"https:\/\/www.commercialsearch.com\/news\/frances-axa-investment-snags-165m-office-asset-in-dc\/","name":"France\u2019s AXA Investment Snags $165M Office Asset in DC - Commercial Property Executive","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/frances-axa-investment-snags-165m-office-asset-in-dc\/#primaryimage"},"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/frances-axa-investment-snags-165m-office-asset-in-dc\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/1401-New-York-Ave..jpg","datePublished":"2018-01-17T10:16:45+00:00","dateModified":"2022-12-09T00:23:32+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/d1edda962dd3af55af8a203870f9fc32"},"breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/frances-axa-investment-snags-165m-office-asset-in-dc\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/frances-axa-investment-snags-165m-office-asset-in-dc\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/frances-axa-investment-snags-165m-office-asset-in-dc\/#primaryimage","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/1401-New-York-Ave..jpg","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/1401-New-York-Ave..jpg","width":1000,"height":800,"caption":"1401 New York Ave. in Washington, D.C."},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/frances-axa-investment-snags-165m-office-asset-in-dc\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"France\u2019s AXA Investment Snags $165M Office Asset in DC"}]},{"@type":"WebSite","@id":"https:\/\/www.commercialsearch.com\/news\/#website","url":"https:\/\/www.commercialsearch.com\/news\/","name":"Commercial Property Executive","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/d1edda962dd3af55af8a203870f9fc32","name":"Barbra Murray","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/9a36d5070adb56de135886aa49db0452b319180ff050dbd70770fd33a3e63774?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/9a36d5070adb56de135886aa49db0452b319180ff050dbd70770fd33a3e63774?s=96&d=mm&r=g","caption":"Barbra Murray"},"url":"https:\/\/www.commercialsearch.com\/news\/author\/barbra-murray\/"}]}},"jetpack_featured_media_url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/1401-New-York-Ave..jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004203983","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/users\/969"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/comments?post=1004203983"}],"version-history":[{"count":3,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004203983\/revisions"}],"predecessor-version":[{"id":1004204053,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004203983\/revisions\/1004204053"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media\/1004203984"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004203983"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004203983"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004203983"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}