Henderson Park Affiliate Acquires Portals I Office Building In Washington, DC For $26M
1250 Maryland Avenue Southwest & 1280 Maryland Avenue Southwest
$26,000,000
$24/SF
Building Size
536,206 SF
Asset Type
Office
Closing
Dec 19, 2023
About this deal
AI
Henderson Park's affiliate has acquired Portals I, a 536,206-square-foot office building located at 1250-1280 Maryland Avenue Southwest in southwest Washington, D.C. The property was sold by Job Warshaw, representing LNR Partners, for a total transaction amount of $26 million. The price per square foot for this sale was $48.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $26,000,000
- Square Footage: 536,206
- Address: 1250-1280 Maryland Avenue Southwest, Washington, DC
- Market: Washington, DC
Henderson Park's affiliate, represented by their broker Job Warshaw, successfully completed the acquisition of Portals I. This purchase represents a significant investment in the D.C. office market.
Players
Washington Office Market Snapshot
Boundary boundary · Office · Sale transactions
Loading comparables…
Deal FAQ
Browse Washington office sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.61%
Cash-on-Cash
-0.17%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93