WASHINGTON, D.C. – July 21, 2015 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the sale of Columbia Center, a 393,815-square-foot, Class A office building in Washington, D.C.
HFF arranged the sale of the property on behalf of UBS Global Asset Management. Carr Properties purchased the asset for an undisclosed amount free and clear of existing debt in a structured transaction together with affiliates of the Oliver Carr Company and Clark Enterprises.
Columbia Center is located at 1152 15th Street NW in Washington, D.C.’s central business district adjacent to the to-be-built Fannie Mae Headquarters. Completed in 2008, the 12-story property is currently 94 percent leased and anchored long-term by Orrick Herrington & Sutcliffe as well as Merrill Lynch.
The HFF investment sales team representing the seller included executive managing director Stephen Conley, senior managing directors Jim Meisel, Dek Potts and Andrew Weir and associate director Matthew Nicholson.
About UBS Global Asset Management, Global Real Estate – US
With over 36 years of real estate investment advisory experience, the US real estate business of UBS Global Asset Management has approximately USD 27.8 billion under management on behalf of over 500 clients. A multi-disciplined real estate organization with staff of approximately 195, it is headquartered in Hartford, Connecticut with regional offices in San Francisco and Dallas. In addition to its US real estate business, UBS Global Asset Management, Global Real Estate manages investments in Europe, Asia and Australia, totaling USD 66 billion in real estate and real estate securities worldwide, as of March 31, 2015. In the US it operates through its legal entities, UBS Realty Investors LLC and UBS AgriVest LLC, registered investment advisors. (data as of June 30, 2015 unless otherwise noted) www.ubs.com/realestate
About Carr Properties
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 owns $1.6 billion of commercial office properties, consisting of approximately five million square feet of operating properties and three major development properties – the Washington Post Site in Washington, DC; 2311 Wilson Boulevard in Arlington, Virginia; and 2025 Clarendon Boulevard in Arlington, Virginia. Upon completion, these development projects will add almost one million square feet of trophy-quality office space to the company’s portfolio. The company is also continuing to expand its portfolio through additional strategic investments in the Washington area.