An affiliate of Brookfield Properties has sold the Victor Building at 750 Ninth St. NW to a private real estate firm affiliated with Rockwood Capital for $153 million.
The nine-story, 350,000-square-foot office space, located near CityCenterDC, sold for approximately $440 per square foot, reported the Washington Business Journal.
Originally built in 1909 and renovated in 2021, the building was last sold in 2005 for $157.5 million. It was previously owned by the Smithsonian.
The deal included Rockwood securing a $113.4 million loan from Deutsche Pfandbriefbank AG, while Brookfield used the proceeds to pay off a $155.6 million loan from 2015. Despite the $172.6 million assessed value, the building’s sale price reflects its strong tenant base and high quality. Rockwood Capital, with $13.1 billion in assets under management, holds several D.C.-area properties including sites in Bethesda, Tysons Corner, and Mount Vernon Triangle.
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