USAA Actual Property Co. purchases $305 million D.C. constructing

USAA Actual Property Co. bought this D.C. constructing in a multimillion-dollar deal.

Courtesy, Trammell Crow Firm

USAA Actual Property Co., the actual property arm of the San Antonio-based insurance coverage big, has simply nabbed a multimillion-dollar Washington, D.C. property. The 540,000-square-foot Sentinel Sq. III constructing, positioned inside strolling distance of the U.S. Capitol and Union Station, was bought to an “affiliate of USAA Actual Property Co.” in a December 8 deal, the Washington Enterprise Journal stories

USAA Actual Property reportedly bought the constructing at 45 L Road NE from MetLife Funding Administration for $305 million, in keeping with a particular guarantee deed obtained by the WBJ. At this worth, the deal could be among the many largest actual property transactions within the nation’s capital this yr. 

The 11-story constructing (D.C. has a peak restrict that extends again to the 1910 Heights of Buildings Act), is a part of a 1.3-million-square-foot growth by Dallas-based builders Tammell Crow. The constructing is designed to fulfill Degree IV safety protocols and to fulfill LEED Silver certification necessities, in keeping with the builders. 

At the moment, the constructing is headquarters for the Federal Communications Fee. In keeping with a 2017 press launch, the FCC occupies a part of the primary and second flooring in addition to the whole thing of flooring three via 10. 

The transfer expands USAA Actual Property Co.’s holding within the D.C. metro space to $30 billion in property, in keeping with the WBJ. 

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