SINGAPORE (Feb 23): Singapore’s sovereign wealth fund GIC says it has formed joint ventures (JVs) with a group of investors to acquire over 2.1 million sq ft of office assets in the Washington DC metro, with a total of more than $1.05 billion in aggregate asset value.

Among the participating investors are affiliates of Beacon Capital Partners, a real-estate developer, owner and manager of office properties in major US markets.

A Thursday joint release issued by GIC and Beacon revealed that one of the JVs includes the acquisition of Lafayette Centre, an approximately 789,000 sq ft Class ‘A’ LEED-Silver complex of three multi-tenant buildings located in the Central Business District (CBD) submarket.

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