Washington Harbour to Sell for $415 Million
By June 25, 2018 0 1238•
One of Georgetown’s defining contemporary landmarks has again been sold. Dockside on the Potomac River, Washington Harbour is an office, retail and condominium complex with two buildings and a central plaza. The plaza’s fountain transforms into an ice skating rink in the winter months.
As first reported by the Washington Business Journal: Global Holdings Group, an international real estate investment company with ties to a prominent Israeli family, has a contract to buy Washington Harbour in Georgetown for $415 million, according to sources familiar with the deal.
The 562,105-square-foot property is owned by South Korean investors, who retained Holliday Fenoglio Fowler, L.P., to arrange the sale. HFF said of the property: “Ninety-eight-percent-leased to 31 tenants with seven years of weighted average remaining lease term (WALT), Washington Harbour offers durable cash flow from entrenched credit tenants with long occupancy histories at the property.”
Located at 3000 and 3050 K St. NW, the complex is managed by MRP Realty, which sold it in 2013 for $370 million.
Opened in 1986 and designed by prominent architect Arthur Cotton Moore, the gathering spot includes Tony and Joe’s Seafood Place, Nick’s Riverside Grill, Farmers Fishers Bakers, Fiola Mare and Sequoia restaurants.