Wednesday, November 29, 2006

CitiMortgage Closes $45.5 Million Sale Leasback of Office Building Near DC - November 29, 2006

The CitiMortgage office building here has traded hands for $45.5 million. ING Clarion acquired the class B office building for a separate account institutional investor. Grubb & Ellis represented the seller.

Marc DeLuca, senior vice president at ING Clarion, tells that CitiMortgage, a business unit of Citigroup, arranged a sale-leaseback as part of the transaction. The company signed a 10-year lease at $14.50 triple net, DeLuca says. CitiMortgage employees occupy the entire 210,471-sf, two-story building located at 5280 Corporate Dr. in the Westview Corporate Center. The building is a hub that handles mortgage lending and services in the southeast. Sphere: Related Content

No comments:

Wikinvest Wire