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TIER Gets $200M for G Street Portfolio

Washington, D.C. Office
Washington, D.C. Office
May 22, 2015 Aisha Carter, Bisnow

Westbrook Partners is reportedly acquiring a majority stake in a two-office portfolio from TIER REIT for about $200M. The portfolio includes the Colorado Building (pictured), at 1341 G St NW, and a second building at 1325 G St NW. TIER REIT will retain a 10% interest in the buildings, GlobeSt reports. TIER REIT also recently sold United Plaza and 1650 Arch in Center City Philadelphia. A fund sponsored by CBRE Global Investors nabbed the recently renovated Class-A buildings for $171M. [GS]

Contact Aisha Carter at aisha.carter@bisnow.com
Related Topics: CBRE, TIER REIT, Westbrook Partners, United Plaza, Colorado Building, 1650 Arch, 1325 G Street NW, 1341 G Street NW, City Center Philadelphia