ALEXANDRIA, VA. — A partnership between Artemis Real Estate Partners LLC and American Real Estate Partners has purchased the Carlyle Center, a 161,684-square-foot office building in Alexandria, according to the Washington Business Journal. The purchase price was $78 million, or $485 per square foot.
The five-story building is located at 1925 Ballenger Ave. The office property is approximately 90 percent leased.
John Kevil of Eastdil Secured represented the seller, Commonfund, in the transaction. Commonfund is an institutional investment firm that was founded in 1969. Commonfund manages more than $24 billion for more than 1,500 institutions.
Artemis Real Estate Partners is a private equity real estate investment manager based in Chevy Chase, Md. American Real Estate Partners, based in Herndon, Va., is a privately held, real estate investment company focused on real estate assets in major markets along the Eastern Seaboard.
— Brittany Biddy