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Euro investor buys DC property.

An undisclosed private European investor represented by Keith K. Compton Consulting has purchased 1331 F Street, N.W., Washington, D.C., from the United Bank of Kuwait, PLC.

The sellers were represented exclusively by Jones Lang Wootton USA.

The transaction represents an example of how building ownership is changing as many commercial office buildings in Washington, D.C.. pass from the hands of the original developer to the lending institution and then returns to the private sector.

The 120,000-square-foot property, completed in 1989, was developed by one of Jones Lang Wootton's offshore clients and won several architectural awards. During 1992, UBK, who were part of the original banking syndicate, bought out the majority syndicate share and acquired the property with the intention of selling once the building had reached a stabilized occupancy level.
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Title Annotation:private European investor acquires property at 1331 F Street, N.W., Washington, D.C.
Publication:Real Estate Weekly
Date:Jun 9, 1993
Words:134
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