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Arch Street Capital Acquires Metro D.C. Office Property for $50M
Real estate investment advisory firm Arch Street Capital Advisors has acquired 12975 Worldgate Centre, a seven-story office property located in Herndon, VA. The sales price was reported as $50 million. The acquisition was part of a joint venture partnership with real estate operating company VEREIT and Arch Street’s institutional client, Gatehouse Capital, K.S.C.C., Kuwait.
The property was built in 1998 and is currently fully occupied by national security company Peraton as the firm’s global headquarters. The property is connected to 170,000 square feet of retail amenities at the adjacent Worldgate Centre.
“The Peraton global headquarters property is an impressive asset and VEREIT is pleased to have completed this transaction to enhance the office partnership portfolio,” said Thomas Roberts, Chief Investment Officer at VEREIT. “VEREIT’s team, in partnership with Arch Street Capital, looks forward to further strengthening the portfolio through future acquisitions.”
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- ◦Sale/Acquisition
