Updated Oct 29, 2024
Smithsonian Institution Acquires Office Building In Washington D.C. For $253.7M
600 Maryland Avenue Southwest, Washington, Dc 20024, Usa
$253,700,000
$402/SF
Building Size
631,029 SF
Asset Type
Office
Closing
Jun 28, 2020
About this deal
AI
The office property located at 600 Maryland Avenue SW in Washington D.C. has been sold in a transaction that took place on June 29, 2020. The property, measuring 631,029 square feet, was purchased by The Smithsonian Institution, represented by Lonnie G. Bunch III. The sale price for this transaction was $253,700,000, resulting in a price per square foot of $402. The seller of the property was Boston Properties, represented by Owen D. Thomas.
Summary of transation details
- Property Type: Office
- Transaction Amount: $253,700,000
- Square Feet: 631,029
- Price per Square Foot: $402
- Buyer: The Smithsonian Institution - Lonnie G. Bunch III
- Seller: Boston Properties - Owen D. Thomas
The buyer, Lonnie G. Bunch III, representing The Smithsonian Institution, acquired the office property located at 600 Maryland Avenue SW. The seller, represented by Owen D. Thomas, was Boston Properties. This transaction represents a significant investment in the Washington D.C. office market.
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Boundary boundary · Office · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.06%
Cash-on-Cash
-0.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93