1101 New York Ave is captured above in a photo taken by KRJDA.
A joint venture between foreign investors – Norwegian global pension fund Norges and Toronto’s Oxford Properties – is “stepping up acquisitions” in Washington, D.C., according to a confidential source cited by Globe Street.
The building reportedly under contract by the JV is one big step. It’s 1101 New York Avenue NW, and measures just over 391,000 sq. ft. At $418M, the deal lists among the highest price paid for office space in DC – about $1,069 per sq. ft.
Yet the JV is reportedly paying even more for another acquisition at 900 16th Street NW, set to pay $160M for the 135,000-sq.-ft edifice.
Inquiries to Oxford Properties and Property Group Partners did not return comment to Globe Street, and a Norges spokesperson declined comment.