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GreenOak, MRP Realty JV Snag D.C. Asset for $65M
A joint venture between GreenOak and MRP Realty acquired 1233 20th Street in Washington, D.C. from JBG Smith for $65 million. The 157,000-square-foot office asset, known as the Lion Building, is located at 1233 20th Street NW in the CBD submarket.
JBG Smith’s Matt Kelly says, “We continue to make progress on our capital recycling goals with the sale of 1233 20th Street. Year-to-date, we have closed over $549 million of asset sales and recapitalizations, the proceeds of which will be used to deleverage our balance sheet and create capacity for future investment opportunities. We plan to continue to capitalize on the current environment to raise attractively-priced capital.”
HFF’s Jim Meisel, Andrew Weir, Matt Nicholson and Dave Baker of represented JBG Smith in the sale of 1233 20th Street.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition