Saban Real Estate (SRE) has completed the sale of a 14-property office portfolio for $430 million. The portfolio totaled 1.48 million square feet in 11 states and at the time of sale was approximately 94 percent leased to the federal government and 99 percent leased overall.
“The 14-property sale completes an eight-year journey with this portfolio for Saban Real Estate,” said Philip Han, CIO at Saban Capital Group. “We are proud of the work we did and value we added throughout the portfolio over the last several years, including leasing over 1.5 million square feet to the federal government in eight of 11 GSA regions.”
The buyer was not disclosed; however, in June, Easterly Government Properties announced an acquisition of a 1,479,762-square foot portfolio of 14 properties from affiliates of an independent third party.
