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Principal Real Estate Buys $150M DC Office

Principal Real Estate Investors has acquired the Capitol Plaza office tower in Washington, DC, for $149.5 million.

    Principal Real Estate Investorshas acquired theCapitol Plazaoffice tower in Washington, DC, for $149.5 million,Bloombergreports. The property was sold byArea Property PartnersandVan Ness Property Group.

    The property is 98% leased to Washington public schools, the U.S.Internal RevenueServiceand theDepartment of Homeland Security. The New York-based investment company and its partner bought the property in 2007.

    Click here for the story fromBloomberg.

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