A joint venture between Investcorp and ScanlanKemperBard has acquired 733 10th Street in Washington, D.C.’s East End office submarket. The $180 million purchase is located close to two major Metro Stations and well-known sports and entertainment venues. Trading for just under $1,054 per sq ft, the 170,813 square foot building was 100 percent occupied at the time of the sale. Since 1996, Investcorp has completed over 400 property investments totaling more than $13 billion in value.
“The 733 10th Street property is a stable, prime asset offering what we believe to be resilient, long-term value in combination with attractive current yields,” said Brian Kelley, Principal, Real Estate Investment at Investcorp. “We are actively seeking additional core-quality, stable properties…in a handful of major gateway markets to supplement our ongoing investment activity in core-plus, high cash yield-oriented properties throughout the U.S.”
