{"id":1004524073,"date":"2021-04-26T03:02:45","date_gmt":"2021-04-26T11:02:45","guid":{"rendered":"http:\/\/internal.cpexecutive.com\/?p=1004524073"},"modified":"2021-11-18T09:28:11","modified_gmt":"2021-11-18T17:28:11","slug":"asb-real-estate-trades-dc-office-building-for-202m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/asb-real-estate-trades-dc-office-building-for-202m\/","title":{"rendered":"ASB Real Estate Trades DC Office Building for $202M"},"content":{"rendered":"
\"\"<\/a>

64 New York Ave. NE. Image courtesy of ASB Real Estate Investments<\/em><\/p><\/div>\n

ASB Real Estate Investments has sold a 355,034-square-foot office building in\u00a0Washington, D.C., on behalf of\u00a0its Allegiance Real Estate Fund, a $7.4 billion core vehicle.\u00a0Boyd Watterson Asset Management acquired the property for\u00a0$201.8 million, two months following its $95 million purchase of\u00a0a 360,000-square-foot Denver office campus<\/a>.<\/p>\n

According to CommercialEdge, ABS paid $186.7 million for the D.C. property in 2017. That sale had been subject to a $115 million loan from Capital One.<\/p>\n

Built as a warehouse in 1909, the property was redeveloped in 2001. The five-story building is home to several government tenants, including the Metropolitan Police and Department of Health Services. The asset includes\u00a010,000 square feet of retail space and\u00a0two elevator cores.<\/p>\n

Located at 64 New York Ave. NE, on roughly 3 acres, the building is within 2 miles of the White House and 6 miles from Ronald Reagan Washington National Airport. The asset is also 7 miles from a 5-acre, mixed-use development<\/a> in College Park, Md.\u00a0The project, which will be constructed in four phases, is expected to cost at least $300 million.<\/p>\n","protected":false},"excerpt":{"rendered":"

Originally built as an industrial structure in 1909 and extensively renovated in 2001, the five-story property is primarily leased to government agencies.<\/p>\n","protected":false},"author":868,"featured_media":1004528063,"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":[33643,37074],"class_list":["post-1004524073","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-asb-real-estate-investments","tag-boyd-watterson-asset-management"],"acf":[],"yoast_head":"\nASB Real Estate Trades DC Office Building for $202M - 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\/asb-real-estate-trades-dc-office-building-for-202m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"ASB Real Estate Trades DC Office Building for $202M\" \/>\n<meta property=\"og:description\" content=\"Originally built as an industrial structure in 1909 and extensively renovated in 2001, the five-story property is primarily leased to government agencies.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/asb-real-estate-trades-dc-office-building-for-202m\/\" \/>\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=\"2021-04-26T11:02:45+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-11-18T17:28:11+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/05\/64-New-York-Ave.-NE-e1619429342998.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"890\" \/>\n\t<meta property=\"og:image:height\" content=\"667\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Sergiu Inizian\" \/>\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\/asb-real-estate-trades-dc-office-building-for-202m\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/asb-real-estate-trades-dc-office-building-for-202m\/\",\"name\":\"ASB Real Estate Trades DC Office Building for $202M - 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