Hines, CalPERS make East Coast purchase

Buildings comprise nearly 1/2 million square feet
Published on Nov 29, 2005

Hines, an international real estate firm, on behalf of National Office Partners Limited Partnership (NOP), its investment partnership with the California Public Employees' Retirement System, purchased the Station Square office complex in Silver Spring, Md. The value of the transaction was not disclosed. Moore & Associates Inc. sold the three-building, 490,000-square-foot, class A office property. At the time of sale, Station Square was 99 percent leased to tenants including: Howard University; the GSA; TV One; and Pike & Fischer. The acquisition of Station Square will bring the total number of office properties in the NOP portfolio to eight, with a total value of approximately $1 billion. *** What's your opinion? Send your Letter to the Editor to [email protected]...

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