JLL Closes $766M Sale of WashREIT Office Portfolio in Metro D.C., Virginia
WASHINGTON, D.C. — JLL has closed the $766 million sale of a 12-property office portfolio totaling 2.3 million square feet in metro Washington, D.C., and Virginia. Stephen Conley, Matt Nicholson, Jim Meisel, Andrew Weir, Dave Baker and Chris Capece of JLL represented the seller, WashREIT. Brookfield Asset Management was the buyer.
The portfolio sale, which was announced in mid-June, includes six office properties across Northern Virginia and six in Washington, D.C.’s central business district.
WashREIT is a Washington, D.C.-based owner and operator of office, retail and multifamily properties in the metro Washington area. The firm has a portfolio of 31 properties with 7,059 multifamily apartment units and about 1 million square feet of commercial space. The sale goes along with WashREIT’s multi-year plan of transforming into a multifamily REIT. The company also plans to sell its remaining eight retail assets and expects to complete that sale in the third quarter of this year.