High-rise commercial buildings

Sub Markets

Property Sectors

Topics

Washington DC CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

Washington DC & Mid-Atlantic  + Office  | 

Saban Sells 14-Office Portfolio for $430M, Adds DC Asset for $170M

An affiliate of Los Angeles-based Saban Real Estate reportedly completed the sale of a 14-property office portfolio to Washington, D.C.-based Easterly Government Properties for $430 million. The portfolio totaled 1.48 million square feet in 11 states, and at the time of sale was roughly 94% leased to the federal government and 99% leased overall.

Saban Capital Group’s Philip Han says, “The 14-property sale completes an eight-year journey with this portfolio for Saban Real Estate. We are proud of the work we did and value we added throughout the portfolio over the last several years, including leasing over 1.5 million square feet to the federal government in eight of 11 GSA regions.”

Properties were located in Sterling, VA, College Park, MD, Portland, OR (pictured), Buffalo, NY, Chicago, Parkersburg, WV, Charleston, WV, Pittsburgh (2), Clarksburg, WV, Charleston, SC, Baton Rouge, Los Angeles, Dallas and Bakersfield, CA.

Saban also acquired 250 E St. SW, a 340,000-square-foot Class A office building in Washington D.C., from Atlanta-based REIT Piedmont Office Realty Trust Inc. for $170 million.

For comments, questions or concerns, please contact Dennis Kaiser

Connect

Inside The Story

Connect With Easterly Government PropertiesConnect With Saban Capital Group’s HanConnect With Piedmont Office Realty Trust

About Dennis Kaiser

Dennis Kaiser is Vice President of Public Relations and Communications for Connect Creative. Dennis is a communications leader with more than 40 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect Creative’s agency client services and is involved in a range of initiatives ranging from public relations and content strategy, communications and message development, copywriting, media relations, social media and content marketing services. Prior to joining Connect Media in 2015, his most recent corporate communications roles involved leading a regional public relations effort across Southern California for CBRE, playing a key marketing role on JLL’s national retail team, and directing the global public relations effort at ValleyCrest (BrightView), the nation’s largest commercial landscape services company. He has worked on marketing communications assignments for such CRE companies as Blackstone/Equity Office, Carlyle, Caruso, Disney Resorts, GE Capital, Irvine Company, Hines, Howard Hughes Corp., Jeffries, Lennar, MGM, Marcus & Millichap, Prologis, Raleigh Studios, Simon, Starwood, Trammell Crow Company, Transamerica, UBS and Wynn Resorts. Dennis has also worked on communications and launch strategies for a number of consumer electronic, media and tech brands including SlingMedia, Channel Master, Deluxe Media Entertainment, BeIn Sports, EchoStar and Sprint. Dennis’s agency background included firms such as Off Madison Ave., Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, Boy Scouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and the Thunderbirds Charities.

  • ◦Sale/Acquisition
  • ◦Sale/Acquisition