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Transactions - OCTOBER 5, 2015

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Foreign investors buy towers in Virginia

by Andrea Waitrovich

London-based Tamares Group and Finland-based Ilmarinen Mutual Pension Insurance Co. have purchased the 787,000-square-foot USA Today Towers in Fairfax, Va., for $270 million. The seller was TEGNA Inc., formerly Gannett.

CBRE brokered the deal and will lead the search for new tenants.

TEGNA Inc. uses the office towers as its corporate headquarters. As part of the completed deal, TEGNA will continue to occupy a portion of the building for the next 18 months.

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