Trizec Properties has purchased a significant interest in 2001 M St., a 229,000-square-foot office property in Washington, D.C.
The value of the transaction was $76.6 million.
The property is held in a joint venture with a local investor group.
The seller was BCSP II Washington Mortgage Holdings LLC.
The property was fully occupied at the time of sale, with the 211,000-square-foot office portion being leased to KPMG through the end of 2011. Trizec will lease and manage the property.
2001 M Street N.W, completed in 1987, is a nine-story class A building. It features a ground-floor shopping arcade and post office branch and a two-story underground parking garage.
Chicago-based Trizec Properties Inc. is a real estate investment trust.
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