DivcoWest Real Estate Services LLC purchased a roughly 205,300-square-foot building in Washington, D.C., for $100.5 million from an affiliate of Clark Enterprises, the Washington Business Journal reported.
The almost 50-year-old property at 1133 15th St. NW, which is home to tenants including tech incubator 1776, was acquired through the company's recently closed fifth fund which raised $1.6 billion, according to the Oct. 6 report.
Eastdil Secured's D.C. investment sales team brokered the sale. Representatives for DivcoWest and Eastdil Secured could not be reached for comment, according to the publication.
The building is across from Carr Properties' 875,000-square-foot Midtown Center office and retail project at 1150 15th St. NW, where Fannie Mae plans to consolidate its headquarters, the report noted.