National Retail Properties Inc., a real estate investment trust, today announced it has closed on the sale of an approximately 554,000-square-foot office property in Washington, D.C. The value of the transaction was $229.3 million, which includes the assumption of a $95 million loan secured by the property. Brookfield Financial Properties L.P., an affiliate of Brookfield Properties Corp., purchased the property, which consists of two class A office buildings and a 1,079-space parking garage located in the Pentagon City submarket of the Washington, D.C., metropolitan area. The property serves as the headquarters of the Transportation Security Administration under a lease that expires in 2014. National Retail invests primarily in high-quality properties subject generally to long-term, net...
Get Inman via Facebook Messenger
Our top headlines delivered once a day.