UBS sells office in Virginia for $228m

Document A joint venture between Paradigm and a fund advised by the UBS Asset Management Real Estate & Private Markets – U.S. has sold Meridian at Pentagon City, a 534-unit, two-tower, multi-housing property in Arlington, Va., for $228 million.

The new owner is a joint venture between Polinger Development Co. and an unidentified institutional investor.

Meridian at Pentagon City is located at 1221 and 1331 S. Eads Street adjacent to Amazon’s forthcoming 4.1 million-square-foot headquarters office. In addition, the property, which is 95 percent leased, is walking distance to metro service and the Pentagon and is across the street from a Whole Foods Market and within a one-mile radius of an additional 1.9 million square feet of retail. The property consists of two high-rise towers encompassing a mix of studio, one- and