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Transactions - MARCH 3, 2014

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IN-DEPTH: Mirae buys D.C. office for $157m

by Andrea Waitrovich

South Korea–based Mirae Asset Global Investments, also known as Mirae Asset Financial Group, has purchased an office building in Washington, D.C. Here’s an in-depth look at the deal.

THE DEAL

Joint venture partners Tishman Speyer Properties and Lehman Brothers Holdings sold 2550 M St. NW for $157 million. The purchase price results in a capitalization rate of roughly 5.4 percent. HFF represented the seller. The deal closed on Feb. 14.

The acquisition is Mirae’s most recent D.C. asset purchase.

THE ASSET

The 207,000-square-foot office was part of a 28-property portfolio owned by

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