Trammell Crow Closes DC Sentinel Square III Site Sale
- Oct 04, 2017
Trammell Crow Co., Cottonwood Partners and a subsidiary of a private real estate fund advised by Crow Holdings Capital Real Estate, closed the sale of the 1.5-acre Sentinel Square III site, part of a 1.3 million-square-foot office complex in Washington, D.C. The seller was a joint venture formed of institutional investors advised and managed by MetLife Investment Management.
TCC has been busy in D.C., recently teaming up with Meadow Partners to purchase an 80 percent condominium interest in the Motion Picture Association of America Building, located in D.C.’s central business district.
Located at 45 L St. NW, Sentinel Square is part of the selling partnership’s three phase campus. The building is scheduled for completion in the beginning of 2020 and is aiming for LEED Silver certification.
“This property represents an opportunity to add a high-quality, materially-leased asset in the NoMa submarket of Washington D.C.,” said Anthony Balestrieri, director & head of acquisitions for MetLife Investment Management in Washington, D.C., in prepared remarks. “As an up and coming area which benefits from the NoMa Metro Station and its proximity to Union Station, and with a growing base of residential, retail, hotel and entertainment amenities, we believe NoMa is well positioned to become a great place to live, work and play.”
Cushman & Wakefield’s Bill Collins, Shaun Weinberg and Chris Riley represented the JV in the sale.
Image courtesy of Trammell Crow Co.