Grosvenor Buys Georgetown Buildings For $85M
A pair of office buildings just north of the Georgetown University campus have traded hands for $85M.
The buyer obtained a $40M loan from Capital One along with the acquisition, deed records show. The property last sold in 2009 for $62M. Chicago-based Equity Commonwealth revealed the sale in a Securities and Exchange Commission filing Monday.
The two office buildings total 240K SF and were renovated in 2006. The Wisconsin Avenue building is occupied by the British International School of Washington, while the Whitehaven Street building is occupied by the Georgetown University Center for Child and Human Development.
For Grosvenor Americas, the acquisition comes after the firm in November sold a 325-unit Capitol Riverfront apartment building for $160.5M. Grosvenor also owns multiple Downtown D.C. office buildings.