Evan Cohen Purchases Office Building From TIAA At 1401 H Street NW For $118M

The property asset involved in this transaction is a 12-story office building located at 1401 H Street Northwest in the Washington, DC market. The sale was finalized for $118,000,000, a significantly reduced price compared to TIAA's previous purchases, which included $205,000,000 in 2006 and a purchase price of $133,000,000 in 1998.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $118,000,000
• Buyer: Evan Cohen
• Seller: TIAA
• Market: Washington, DC

The key players in the transaction include TIAA, represented by its subsidiary Nuveen, which sold the office building to Tourmaline Capital Partners. This sale reflects a notable decline in the property’s market value over the years since its initial purchases by TIAA.