Hines, CalPERS make East Coast purchase

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 opinion@inman.com.

All rights reserved. This content may not be used or reproduced in any manner whatsoever, in part or in whole, without written permission of Inman News. Use of this content without permission is a violation of federal copyright law.