IN­VEST­ING ABROAD

Qatar Today - - BUSINESS > REALTY CHECK -

in­vest­ment firm In­vest­corp's United States­based real es­tate arm pur­chased an of­fice build­ing in Seat­tle, Wash­ing­ton, for around $223.5 mil­lion

In­vest­corp pur­chased the prop­erty with its joint ven­ture part­ner, Sch­nitzer West, a real es­tate in­vest­ment, de­vel­op­ment, and man­age­ment firm with a cur­rent port­fo­lio of 5.3 mil­lion square feet in the Seat­tle metropoli­tan area. The 41-storey, Class A of­fice build­ing, known as 901 Fifth Av­enue, was part of the com­pany's ini­tia­tive to ac­quire “top-qual­ity, well-oc­cu­pied, cash-flow­ing prop­er­ties in gate­way mar­kets in the US”. The build­ing is a multi-ten­anted of­fice build­ing lo­cated in Seat­tle's cen­tral busi­ness dis­trict, which is 90% oc­cu­pied by a di­verse ros­ter of 46 ten­ants in­volved in a broad spec­trum of busi­nesses, in­clud­ing tech­nol­ogy, le­gal ser­vices and pro­fes­sional ser­vices.

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