Investcorp acquires $180million office building in Washington

Investcorp yesterday announced that its US-based real estate arm has acquired a Class A, quality office building in Washington, DC for approximately $180 million. This acquisition represents the first acquisition under a new initiative focused on core-quality, long-term hold assets in key gateway markets.

The “Property” a 100 per cent occupied, luxury office building is located in Washington, DC’s East End office submarket, in close proximity to high-end retail stores, premium hotels and restaurants, two major Metro Stations and well-known sports and entertainment venues.

Mohammed Al Shroogi, Co-CEO at Investcorp, said, “The 733 10th Street property is a stable, prime asset offering and what we believe to be resilient long-term value. We continue to seek additional core-quality, stable properties like 733 10th Street in a handful of major gateway markets to supplement our on-going investment activity in strategically-located properties throughout the US.”

Fahad Murad, Managing Director at Investcorp for Bahrain, said, “733 10th Street is a valuable addition to our real estate portfolio and, given its prime location in the US capital and full occupancy, we believe it has the ability to generate stable cash flow and provide resilience to market volatility.”