Carr Properties is a real estate investment company focused on creating value for our shareholders through new acquisitions, development and property management opportunities in the greater Washington area. The company has interests in over $1 billion of commercial office properties, including twenty-one existing office properties, and two major development properties - 1700 New York Avenue in Washington, DC, and 4500 East West Highway in Bethesda, Maryland. We continue to expand our portfolio through strategic investments in the Washington area.
Carr Properties was formed in March of 2007 as the successor entity to Columbia Equity Trust, Inc., a New York Stock Exchange listed office REIT that was acquired by a commingled fund of institutional investors advised by J.P. Morgan Asset Management through a merger transaction. Formed in July of 2005 through an initial public offering, Columbia Equity Trust was an active investor and developer of office properties in the greater Washington, DC market. Columbia succeeded the operations of Carr Capital Corporation, a privately held company formed by the senior management of Columbia in 1994. The management of Carr Properties is proud to continue to build on the real estate tradition established by the Carr family for over one hundred years in the Washington area.
In addition to building on its active investment business, Carr Properties offers development and property management services for its own portfolio and to third party owners.