Bloomberg News

Brookfield Buys Suburban D.C. Office Building for $150.1 Million

September 12, 2011

Sept. 12 (Bloomberg) -- Brookfield Office Properties Inc. purchased 3 Bethesda Metro Center, a 17-story office building in the Washington suburb of Bethesda, Maryland, for $150.1 million.

The 368,400-square-foot (34,000-square-meter) building is Brookfield’s fourth in Bethesda, the New York-based real estate company said in a statement today. It now has 30 properties in the greater Washington area totaling 7.5 million square feet.

The Bethesda building is at the intersection of Wisconsin Avenue and Old Georgetown Road, adjacent to a Metro transit station and a Hyatt Regency Hotel, according to the statement. The property, which features a 16-story atrium and marble lobby, is 93 percent leased.

The seller was the Meridian Group, a Bethesda-based real estate investment and development firm.

--Editors: Kara Wetzel, Christine Maurus

To contact the reporter on this story: David M. Levitt in New York at dlevitt@bloomberg.net

To contact the editor responsible for this story: Kara Wetzel at kwetzel@bloomberg.net


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