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 its surrounding areas.
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