PRP Real Assets Acquires 117,000 SF Office Building In Washington DC For $30 Million From Tishman Speyer

The office asset located at 900 19th Street Northwest in Washington, DC, has been acquired by PRP Real Assets for a total amount of $30,000,000. This property spans 117,000 square feet, translating to a price per square foot of $256. The acquisition focuses on a lease-up strategy and plans for significant upgrades to reposition the property, which is currently 60% vacant.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $30,000,000
• Buyer: PRP Real Assets
• Seller: Rob Speyer - Tishman Speyer
• Square Footage: 117,000
• Price per Square Foot: $256

This transaction involved Rob Speyer representing Tishman Speyer, thereby facilitating the sale of the property to PRP Real Assets. The focus for the buyer is to enhance the property through strategic upgrades and targeted leasing initiatives.