Joint Venture Sells Washington Harbour

Washington, D.C. — The mixed-use development contains 557,961 square feet along the Potomac River in the Georgetown submarket of Washington, D.C.

Washington, D.C. — A joint venture between Rockpoint Group LLC and MidAtlantic Realty Partners LLC has sold the 557,961-square-foot Washington Harbour, located along the Potomac River in Washington, D.C.’s Georgetown submarket. Principal Real Estate Investors acquired the mixed-use property for a consortium of South Korean investors. Simone Investment acted as the managing member of the consortium. Principal Real Estate Investors and Hana Daol Fund Management have been appointed as asset managers.

The project, which was designed by Arthur Cotton Moore, contains two freestanding Class A towers that recently underwent a $50 million renovation. The renovation added a fountain with programmable light and water shows for the spring and summer, which will be transformed into a 12,000-square-foot ice skating rink in the fall and winter. Retail tenants include restaurants Fiola Mare, Farmers Fishers Bakers, Bangkok Joe’s, Sequoia, Tony & Joe’s Seafood Place and Nick’s Riverside Grill. The office portion is 96 percent leased to 26 tenants.

Jim Meisel, Dek Potts and Andrew Weird, along with Stephen Conley and Matt Nicholson, with HFF represented the seller in the transaction.

 

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