Transactions - APRIL 28, 2014

To read this full article you need to be subscribed to Newsline.

Sign in Start Your Free Trial Now View Purchase Options

Morgan Stanley buys stake in D.C. office

by Andrea Waitrovich

Morgan Stanley’s Prime Property Trust has acquired a 64 percent partial interest in Lafayette Tower in Washington, D.C. The transaction valued the building at approximately $229 million, or $936 per square foot. The 244,812-square-foot office building was sold by Property Group Partners and W.R. Berkeley.

W.R. Berkekey, and Property Group Partners acquired the development site for $80 million. The site was part of a $48 million development project, which was completed in 2009.

Lafayette Tower was designed by Pritzker Prize–winning architect Kevin Roche. The 11-story free-standing glass building was the first commercial office building in Washington, D.C., to receive the LEED Platinum rating. Tenants include Fried Frank, Holland & Knight, Drexel University, Au Bon Pain and TD Bank. 

Glossary, videos, podcasts, research in the Resource Center

Forgot your username or password?

Close your account?

Your account will be closed and all data will be permanently deleted and cannot be recovered. Are you sure?

We respect your privacy! Please give consent for processing data as described in our Privacy Policy