Washington, DC, Sept. 2, 2009 - Deka Immobilien GmbH has acquired 1999 K St, NW from Vornado Realty Trust. CB Richard Ellis’ buy-side investment advisory group, Global Property Advisors (GPA), with the support of the firm’s Washington DC Capital Markets team, represented Deka in this off-market transaction for a purchase price of approximately $208 million.
The office building, designed by Helmut Jahn and recently awarded a LEED-CS Gold certification, was completed in August and serves as the new headquarters for the law firm Mayer Brown.
Mayer Brown occupies the entire 12-story, 250,000 sq ft office building on a new 15-year lease. In addition, TD Ameritrade occupies a 5,000 sq ft retail unit on the ground floor. Vornado will continue to manage the property on behalf of Deka Immobilien going forward.
About DekaBank Group
The DekaBank Group is the largest provider of open-ended property funds in Germany. The two investment companies, Deka Immobilien Investment GmbH and WestInvest Gesellschaft für Investmentfonds mbH, together manage fund assets of over EUR 19 billion. As a sister company, Deka Immobilien GmbH is responsible for the acquisition and disposal of properties, management of these assets and all other property services as well as for product development. Together with the Real Estate Lending Unit of DekaBank, the three companies form the Group’s Asset Management Property business division.
About CB Richard Ellis
CB Richard Ellis Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services firm (in terms of 2008 revenue). The Company has approximately 30,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 300 offices (excluding affiliates) worldwide. CB Richard Ellis offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. CB Richard Ellis has been named a BusinessWeek 50 "best in class" company and Fortune 100 fastest growing company two years in a row. Please visit our Web site at www.cbre.com.