Carr Properties is a privately held real estate investment trust focused on creating value for its shareholders through the ownership, acquisition and development of high-quality office properties in the greater Washington area. The company maintains ownership of 15 commercial office properties totaling over 3.5 million square feet as well as five major development properties – Midtown Center in Washington, DC (previously known as the Washington Post Site); Signal House (350 Morse Street NE) in Washington, DC; 7272 Wisconsin Avenue in Bethesda, Maryland; 2311 Wilson Boulevard in Arlington, Virginia; and 2025 Clarendon Boulevard in Arlington, Virginia. Upon completion, these projects will add an additional 2.3 million square feet of trophy-quality office space to the company’s portfolio. The company is continuing to expand its portfolio through strategic investments in the Washington area.
The company’s largest investors include a commingled fund of institutional investors advised by J.P. Morgan Asset Management and Alony Hetz Properties and Investments, Ltd. (TASE:ALHE) with additional interests held by a variety of limited partners, including the Oliver Carr Company and Clark Enterprises.
Carr Properties is proud to build on the real estate tradition established by the Carr family for over 100 years in the Washington, DC area.
1994 Oliver T. Carr III forms Carr Capital Corporation with classmates from graduate school at MIT. Carr Capital operates as a privately held real estate merchant banking and investment company with headquarters in Boston, Massachusetts.
1998 Carr Capital relocates to Washington, DC where the team builds on the reputation and extensive relationships that the Carr family had formed over four generations in the Washington, DC real estate market.
1998-2005 Carr Capital and its investment partners acquire 14 commercial office properties in the Washington, DC central business district and suburban office submarkets with an aggregate investment value of approximately $440 million.
2005 Carr Capital rebrands as Columbia Equity Trust, Inc. and completes an initial public offering (NYSE:COE). The company raises $207 million of equity through the IPO with the objective of becoming the preeminent owner and operator of mid-sized commercial office properties in the Greater Washington, DC area.
2007 After a year and eight months of successfully executing its business model, the company’s shareholders approve a merger with an affiliate of the Commingled Pension Trust (Special Situation Property Fund) of JPMorgan Chase Bank, N.A (SSPF). The company is again branded as Carr Properties.
2007 Carr Properties joins forces with Carr Realty Partners, a company founded by Robert Carr, former President of CarrAmerica Urban Development (and Oliver T. Carr, III’s brother) and Rich Greninger, former Managing Director of Operations of CarrAmerica. With this transaction, Carr Properties becomes a vertically integrated real estate operating company with best-in-class development and management.
2013 Alony Hetz Properties & Investments Ltd., one of Israel’s largest publicly-held real estate investment holding companies, purchases 50% of SSPF’s interest in Carr Properties, providing the company with significant growth capital.
2017 Carr Properties completes a $300 Million convertible debt investment with Clal Insurance Enterprises Holdings Ltd. and its affiliates.