{"id":1004246978,"date":"2018-08-02T05:01:06","date_gmt":"2018-08-02T13:01:06","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004246978"},"modified":"2022-12-08T10:45:52","modified_gmt":"2022-12-08T18:45:52","slug":"dcs-landmark-washington-harbor-property-sells-for-415m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/dcs-landmark-washington-harbor-property-sells-for-415m\/","title":{"rendered":"DC\u2019s Landmark Washington Harbor Property Sells for $415M"},"content":{"rendered":"

By Barbra Murray<\/em><\/p>\n

\"Washington<\/a>

Washington Harbour, Washington, D.C.<\/p><\/div>\n

Tapped by Principal Real Estate Investors to sell the prominent Washington Harbour mixed-use destination in Washington, D.C., earlier this year, HFF has completed the task. The commercial real estate and capital markets services provider sold the approximately 560,000-square-foot, unencumbered office and retail asset to Global Holdings Management Group, a Monaco-based private real estate holding conglomerate chaired by billionaire Eyal Ofer, in a $415 million transaction.<\/p>\n

As described in HFF\u2019s offering memo for the property, \u201cWashington Harbour is a rare and coveted core opportunity to acquire a truly unique Washington, D.C., property in an irreplaceable location.\u201d<\/em> Rare for its offerings, coveted for its success.<\/p>\n

Sited in a prime spot along the Potomac River in the tony Georgetown submarket, Washington Harbour features two towers encompassing approximately 475,00 square feet of Class A office space, as well as a highly popular, 85,000-square-foot experiential retail and entertainment segment. The Arthur Cotton Moore Associates-designed property is 98 percent leased.<\/p>\n

Principal Real Estate Investors\u2019 disposition of Washington Harbour was completed on behalf of a consortium of South Korean investors<\/a> led by managing members Simone Investment and Hana Alternative Asset Management. The HFF team on the transaction included Stephen Conley, Jim Meisel, Andrew Weir, Matt Nicholson and Dave Baker. Providing additional support were Dan Cashdan, Riaz Cassum, Coleman Benedict and Gerry Rohm of HFF\u2019s capital markets group. Mark Gibson, CEO of HFF, and Manny de Z\u00e1rraga, national co-head of investment advisory for HFF, also provided backing for the endeavor.<\/p>\n

D\u00e9j\u00e0 vu<\/strong><\/h2>\n

With the closing of the sale to Global Holdings, Washington Harbour has changed hands three times in the last eight years, and HFF had a role in each of the transactions.<\/p>\n

In 2010, HFF orchestrated the sale of Washington Harbour, then owned by Prudential Real Estate Investors, to Rockpoint Group and MRP Realty for $224 million. And in 2013, Rockpoint and MRP turned to HFF to find a new owner for the property. The firm secured the Principal Real Estate-represented consortium as a buyer, selling the property in a $372.5 million deal.<\/p>\n

Image courtesy of HFF <\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Acting on behalf of a consortium represented by Principal Real Estate Investors, HFF secured Global Holdings Management Group as a buyer for the 560,000-square-foot office and retail asset. <\/p>\n","protected":false},"author":969,"featured_media":1004247005,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21808,21783,11,21752,21742,1615],"tags":[36640,33885,32792,41462,41459,33706],"class_list":["post-1004246978","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-featured","category-investment","category-midatlantic","category-mixed-use","category-latest","category-washington-dc","tag-eyal-ofer","tag-global-holdings","tag-hff","tag-manny-de-zarraga","tag-mark-gibson","tag-principal-real-estate-investors"],"acf":[],"yoast_head":"\nDC\u2019s Landmark Washington Harbor Property Sells for $415M - 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