June 13, 2016 Comments Off on Meridian Acquires International Place for $100M Views: 319 California News, Maryland, Massachusetts, National News, Northeast

Meridian Acquires International Place for $100M

Bethesda, MD-based The Meridian Group acquired International Place, a 12-story office asset in Rosslyn, VA from Boston-based Beacon Capital Partners for more than $100 million. The acquisition was made by the developer’s Meridian Realty Partners II LP fund, which focuses on value-add plays near Metro stops.

Meridian’s Gary Block says the 90% occupied 293,539-square-foot asset is an “older, Class B building” in an “A-plus location.” The company believes Rosslyn is primed for growth.

Beacon Capital acquired International Plaza in 2007 for $99 million and completed $4.4 in capital improvements, including a 5,000-square-foot fitness center and conference center. Meridian plans to complete additional renovations to re-position the property.

Cushman & Wakefield’s Bill Collins and Paul Collins represented Beacon. CBRE’s Malcolm Schweiker and Erik McLaughlin handled leasing prior to the sale.

Read More at Washington Business Journal

Connect with TMG’s Block

Connect with C&W’s Collins

Share on FacebookTweet about this on TwitterShare on LinkedInEmail this to someone

Tags: , , , , , , , , ,

Comments are closed.