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Class a tower fetches $12.4M.


MetLife/SSR Realty realty n. a short form of "real estate." (See: real estate)


REALTY. An abstract of real, as distinguished from personalty. Realty relates to lands and tenements, rents or other hereditaments. Vide Real Property.
 Advisors has sold the Class A office building Washington Square, 1010 Washington Boulevard The following roads are named Washington Boulevard:
  • Washington Boulevard (Arlington)
  • Washington Boulevard (Baltimore)
  • Washington Boulevard (Detroit)
  • Washington Boulevard (Los Angeles)
  • Washington Boulevard (Stamford)
, Stamford, CT to Berwind Property Group for $12.4 million.

Like other downtown property holders in the late 1990's, MetLife invested in 1010 knowing the risk associated with the City of Stamford's urban renewal program. Stamford's Urban Renewal progress is timely for MetLife's disposition timing and is partly responsible for investors' widely perceived increase in 1010's value.

In spring of 2004 asset manager SSR (Scalable Sampling Rate) See AAC.

SSR - Scalable Sampling Rate
 Realty Advisors and selling broker Albert B. Ashforth, Inc. established a disposition strategy to maximize MetLife's gain at disposition via a private offering to office investors nationwide. Ashforth exposed 1010 Washington to the real estate investment market in July. By September from over a dozen serious offers, Berwind emerged as the most motivated mo·ti·vate  
tr.v. mo·ti·vat·ed, mo·ti·vat·ing, mo·ti·vates
To provide with an incentive; move to action; impel.



mo
 and qualified buyer.

Representing the seller, MetLife, was John Stoddard, CCIM CCIM Certified Commercial Investment Member
CCIM Centro Cultural Islámico de México
CCIM Client Component Installation Manager (Microsoft)
CCIM Comité Consultatif pour l'Informatique Médicale
CCIM Command Computer Input Multiplexer
, and Ed Tonnessen, Executive VP, Albert B. Ashforth, Inc. Corporate Real Estate Brokerage. Berwind was self represented.
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Article Details
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Title Annotation:MetLife Real Estate Investments/SSR Realty Advisors Inc. sells Class A office building Washington Square to Berwind Property Group Inc.
Publication:Real Estate Weekly
Article Type:Brief Article
Geographic Code:1USA
Date:Feb 16, 2005
Words:161
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