Qatari Royal Family Pays $107.9M for Eye Street Building
Duwaliya US Real Estate, the US real estate affiliate of Qatari’s ruling Al Thani family, has made a major real estate purchase near the White House with the acquisition of the 219k SF 1575 Eye St NW for $107.9M from an affiliate of Carr Properties, the Washington Business Journal reports.
The transaction is the latest investment to flow into in the DC area from the sovereign country. Earlier this year, Qatar-based Al Rayyan Tourism Investment Co purchased the St. Regis Hotel. Back in 2011, Qatar’s sovereign wealth fund was a major backer of CityCenterDC and invested $700M to jump-start construction.
The deal for 1575 Eye St NW is the latest sign that DC remains an attractive target for foreign investors. Just last month, CBRE’s Q3 MarketView Report noted that DC was ranked No. 2 among major cities for foreign investment in real estate, behind only Manhattan. [WBJ]