We were able to leverage Dulles Metro Center’s intrinsic location and building value and conduct an off-market transaction that was highly satisfactory to all parties.
Washington, DC (PRWEB) November 12, 2014
Deka Immobilien GmbH has sold Dulles Metro Center, a Class A office property in suburban Washington, DC, for an undisclosed price. The buyer is a joint venture between Principal Real Estate Investors and The Pinkard Group.
Located at 2325 Dulles Corner Boulevard in Herndon, Virginia, the 11-story, LEED-Gold building is moments away from Dulles International Airport and adjacent to the Hyatt Dulles Hotel. The property benefits from excellent nearby amenities as well as easy access to the Dulles Toll Road and the to-be completed Dulles Metrorail Station. Upon completion, the station will provide a direct link between downtown Washington, DC and the Dulles Airport.
Savills Studley’s US Cross-Border Group, led by Robert Stamm, advised Germany-based Deka in the disposition and represents the investment company exclusively in the United States. Deka has about $25 Billion EUR in real estate assets under management globally.
“We were able to leverage Dulles Metro Center’s intrinsic location and building value and conduct an off-market transaction that was highly satisfactory to all parties,” said Robert Stamm.
About Savills Studley
Savills Studley is the leading commercial real estate services firm specializing in tenant representation. Founded in 1954, the firm pioneered the conflict-free business model of representing only tenants in their commercial real estate transactions. Today, supported by high quality market research and in-depth analysis, Savills Studley provides strategic real estate solutions to organizations across all industries. The firm’s comprehensive commercial real estate platform includes brokerage, project management, capital markets, consulting and corporate services. With 25 offices in the U.S. and a heritage of innovation, Savills Studley is well known for tenacious client advocacy and exceptional service.
The firm is part of London-headquartered Savills plc, the premier global real estate service provider with over 27,000 professionals and over 600 locations around the world. Savills plc is listed on the London Stock Exchange (SVS.L).
For more information, please visit http://www.savills-studley.com and follow us on Twitter @SavillsStudley and LinkedIn.
Savills Studley Cross Border Investments – Savills Studley Cross Border Investment (CBI) is an advisory practice, comprising our new Savills Studley relationship, and our previous existing US presence. The group is tailored towards foreign investors who require specialized advisory and technical services in the United States. CBI assists global clients with all aspects of their investment initiatives, including, but not limited to: Strategy, Buy-Side, Debt Structuring and Disposition services. CBI has successfully advised clients on approximately $3.5 billion of US commercial real estate transactions since 2009 and continuously collaborates with the network of Savills Cross Border Investment colleagues around the world.
About Principal Real Estate Investors
Principal Real Estate Investors manages or subadvises $54.3 billion in commercial real estate assets . The firm’s real estate capabilities include both public and private equity and debt investment alternatives. Principal Real Estate Investors is the dedicated real estate group of Principal Global Investors, a diversified asset management organization and a member of the Principal Financial Group®.
About The Pinkard Group
The Pinkard Group is a real estate company that invests opportunistically across the spectrum of property types in the Washington, DC metropolitan area. The firm serves as a trusted local partner for national real estate investors offering a platform noted for deep market knowledge, extensive relationships and a thorough understanding of real estate at the property level. The Pinkard Group will be acquiring the Property on behalf of its Pinkard Fund I, a commingled discretionary real estate fund focused on investment opportunities in the greater Washington DC area.