An affiliate of MRP Realty has quietly scooped up the big office building next to Union Station, reportedly paying roughly a third or less of the property’s assessed value. The deal is the latest sign that investors are circling transit-adjacent office assets they hope to reposition in Washington’s stressed market.
Sale details
As reported by the Washington Business Journal, an MRP Realty affiliate closed this week on 10 G St. NE and paid roughly 30% or less of the building’s assessed value. The Business Journal identified the buyer as an MRP affiliate and cast the acquisition as part of a broader wave of opportunistic purchases across the District.
Property and location
Offering materials for the property put it at about…..