JBG Sells Georgetown Office Building Ahead Of Merger

1025 Thomas Jefferson St NW
Courtesy: HFF

The JBG Cos has been looking to sell a 317k SF Georgetown office building since June to deleverage its portfolio ahead of a potential merger, and now just as it announces a huge merger, the developer has found a buyer for the property.

JBG is selling the Class-A office building at 1025 Thomas Jefferson St NW to Alduwaliya Asset Management for $141.8M, with HFF brokering the deal.

Alduwaliya, a UK-based private investment firm representing a wealthy Qatari family, joins a growing list of foreign investors in DC real estate, who most often put their money in trophy office buildings.

When JBG began marketing the property, it was preparing to merge with New York REIT. That merger fell through in August and JBG is now merging with Vornado/Charles E. Smith in an $8.4B deal expected to close in Q2 2017.

Continue reading this story with a free account

Log in or register
Sign up for more articles like this
Subscribe to Bisnow's Washington, D.C. Newsletters
Related Stories

Defense Tech Firms Setting Up Shop In Trump Family's Palm Beach Orbit

Google Delays Thompson Center Opening To 2028, Releases New Renderings

Loudoun County Moves To Pause Data Center Applications For 12 Months

Why Top-Secret Facilities Are Permeating Greater D.C.'s Office Market

DivcoWest Sells Glendale Office Building For $70M

Hines And Rialto Close Office Credit Fund At $1.1B

Rig Collapse At Citadel HQ Site Sends 4 To Hospital

Northern Virginia Office Tower Sells For Double Its 2024 Price

Design Plans Revealed For RFK Stadium Parking Garages, Headed To Review

Oxford Properties' U.S. Investment Head On Why It's Buying Office Again — And Where

Fertility Provider Opens Clinic At 1900 Lawrence Office Tower: The Denver Deal Sheet

Office Revenues Are Failing To Keep Pace With Expenses