Two U.S. investment firms form JV to invest in Washington D.C.
CBRE Global Investment Partners, the indirect real estate platform of CBRE Global Investors, has formed a joint venture with The JBG Cos. to acquire high-quality assets in the Washington, D.C., metropolitan area. The joint venture initially intends to invest approximately $250 million of equity to acquire $500 million of office, retail and multifamily assets and has the potential to expand further. “This venture is a great fit with our strategy of investing with best-in-class operating partners,” said Paul Sisson, head of the Americas for CBRE GIP, in a statement. “The JBG Cos. has deep local relationships, market knowledge and operating expertise and this venture provides our clients an opportunity to acquire high-quality assets in one of the largest U.S. metros, which offers a diverse and resilient economy with strong demographics.” The joint venture targets assets with a core-plus risk profile in attractive submarket locations that t