The Real Deal Miami

Miami-based Adler Group to buy $350M in Washington real estate

September 06, 2011 10:30AM

Principals with Miami-based commercial firm Adler Group and partner Area  Properties have announced the first set of closings on a 3.1
million-square-foot portfolio in Washington, D.C. The deal will
ultimately include 18 industrial and office properties totaling $350
million. The seller was the Washington Real Estate Investment Trust. The
final phase of transactions will be completed within the next two
months. The properties include several high-profile tenants such as American Honda Motor Corporation and GE Healthcare. The average tenant
size is 13,000 square feet. “We are bullish on the greater Washington,
D.C. area,” said AREA partner Steve Wolf. — Alexander Britell