Bisnow Scoop: $100M Deal Downtown
We told you yesterday about a downtown DC deal that could close soon. But now we've learned that a different, $100M-plus deal has closed, as a major local developer adds another big piece to its portfolio.
Multiple sources have confirmed that MRP Realty (here's the firm's Charley McGrath, Zach Wade, Bob Murphy, and Ryan Wade) and partner Rockpoint Group have purchased 1333 H Street NW for a $127M, or $484/SF. Denver-based Miller Global Properties was the seller. The property was not widely marketed, though the seller retained HFF to put out feelers.
According to MRP's website, 1333 H St is now the firm's only existing office building downtown; it's under construction on 900 G St with partner ASB Real Estate Investments. The price tag is a bit of a dip from the $130.7M figure Miller Global paid in 2008. The 263k SF property sits across from the New York Avenue Presbyterian Church, and counts the Center for American Progress as an anchor tenant. Thomson Reuters is another big tenant.
