June 23, 2017 Comments Off on Monday Properties Shifts to Buyer in Alexandria Portfolio Deal Views: 700 National News, New York, Northeast

Monday Properties Shifts to Buyer in Alexandria Portfolio Deal

New York-based Monday Properties acquired Beauregard Office Park, a five-property 300,000-square-foot office portfolio in Alexandria, VA from special servicing for an undisclosed amount. Located at 1500, 1600, 1800 1900 and 2000 N. Beauregard St., the assets were part of a group of nine properties known as Lafayette Property Trust.

They were part of a larger pool of pre-recession CMBS loans set to expire over the next year or so. The loans date back to 2007, and involved a partnership between Duke Realty Corp., Belcrest Capital Fund and Eaton Vance.

Monday and its undisclosed investment partner plan to complete a series of renovations in the coming year, designed to re-energize the 55%-leased office park and ignite leasing activity.

Monday Properties’ Anthony Westreich says the company is moving off the acquisitions sideline, and this shift to buyer reflects its future strategy.

Read more at Monday Properties

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