Allianz Real Estate and Columbia Property Trust Acquire 1800 M Street, Washington, D.C.

Τετάρτη, 25 Οκτωβρίου 2017 14:37

Allianz Real Estate today announced the acquisition of 1800 M Street in Washington, D.C. through its joint venture with Columbia Property Trust. Allianz and Columbia announced the formation of their joint venture in early July of this year.

1800 M Street is located at the corner of 18th and M Streets. Its setting is directly in the path of three Metro stations and is just blocks away from several of D.C.'s most sought after, highly-amenitized, residential neighborhoods. The property's recent repositioning created a tenant experience resulting in 400,000 RSF of leasing activity. It is currently 94 percent leased with a stable, diverse income stream and minimal near-term rollover.

"1800 M Street is an asset that epitomizes our investment program with Columbia Property Trust," said Christoph Donner, CEO of Allianz Real Estate of America. "It is a Class A, transit-oriented office property situated among renowned dining, retail and entertainment venues and attractive residential neighborhoods, all within one of the global, gateway cities Allianz has confidence in."

1800 M Street is LEED Gold certified, 10-story, ≈ 581,000 RSF building leased to 34 tenants with trophy-quality build-outs. The property incorporates three levels of below-grade parking, storefronts, dual lobbies, six private tenant terraces, a rooftop deck and nine corner offices per floor. Farragut Square, Dupont Circle, Restaurant Row and Connecticut Avenue are in close proximity, as are the Logan Circle and Georgetown residential neighborhoods.