A real estate fund managed by Brookfield Asset Management has acquired Block 24 office building in The Spring District, a new urban Bellevue neighborhood in Washington, for $300 million.
The sellers were Wright Runstad & Co., Shorenstein Properties and institutional investors advised by J.P. Morgan Global Alternatives.
This sale follows Brookfield’s recent purchase of the adjacent Block 16 office building in October 2020.
The 197,959-square-foot Block 24 building is leased to Facebook and represents the latest addition to The Spring District, which already encompasses more than 1 million square feet of office space, neighborhood retail space and more than 800 apartments centered on the future Spring District light rail station.
“We are proud to have completed our second office building sale to Brookfield at The Spring District,” said Colby Wick, managing director at Shorenstein. “Our strategy of investing in high quality properties in growing
