Kuwaiti investor makes second U.S. 2019 transaction

Northridge Capital and KAMCO Investment Co., a Kuwaiti-based asset management and investment banking firm, have acquired Centerstone at Tysons, a six-story, class A office building located in the heart of Tysons Corner in Fairfax County, Va. — the second transaction for the partnership this year.

“Partnering once again with Northridge Capital in acquiring Centerstone at Tysons has been a great experience. The class A real estate office building has a strategic location in the heart of Tysons, Virginia, an area that is known to occupy the corporate headquarters of several Fortune 500 companies. We have been consistently scaling KAMCO’s real estate portfolio through diversified assets that provide long-term value with attractive yields,” said Mohammad Al-Othman, senior vice president and head of the alternative investments department at KAMCO.

Centerstone at Tysons is located at 1550 Westbranch Drive and offers a total of 151,949 rentable square feet on a 5.39-acre parcel.

“Similar to our investment rationale for HP Plaza [in Houston], Northridge Capital saw an opportunity to purchase a high-quality asset in a dynamic submarket that is well positioned to capitalize on the transformation taking place in Tysons,” said David Etemadi, managing director for Northridge Capital. “Centerstone at Tysons offers investors strong long-term cash-flow growth through its NNN lease structure and strong credit security from a tenant with one of the highest possible credit ratings. Moreover, we look forward to partnering with the tenant as they work to transform this building and map out the next generation work environment with features and amenities that we hope will serve as the prototype for the ‘office of the future’ for Freddie Mac,” he continued.  Etemadi concluded, “The attractiveness of the location will only improve given its close proximity to The Mile, Kettler and PS Business Park’s 3 million-square-foot mixed-use development that will catalyze and continue to transform Tysons into a walkable, 24/7 urban environment.”