Asset Capital Corp. grows holdings near D.C.

Picks up projects in 2 states
Published on Mar 13, 2006

Asset Capital Corp. Inc. recently closed on two separate acquisitions in Maryland and Virginia totaling $21.6 million. The company added a 54,692-square foot one-story office building located in Lanham, Md., for a purchase price of approximately $9.4 million. The property was 100 percent occupied at the time of sale by three corporate tenants under leases having remaining terms ranging from 1.5 years to more than 6 years. In addition, the company completed the acquisition of Pidgeon Hill II, consisting of two office buildings comprising a total of 95,137 rentable square feet in Sterling, Va. Asset Capital paid approximately $12.2 million. The two buildings were 77.7 percent leased at closing to 34 tenants. Asset Capital Corp. Inc. is a self-managed, fully-integrated real estate company focused on acquiring, developing, redeveloping, financing, managing and disposing of commercial real estate properties located primarily in the greater metropolitan Washington, D.C. marketplace and it...

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