Real Estate
Washington Harbour's $370 Million Price Tag Confirmed
MRP realty sold the Washington Harbour to a group of South Korean investors.
The sale of Washington Harbour complex is now final with a price tag of $370 million, according to the Washington Business Journal.
MRP Realty and Rockpoint purchased the Washington Harbour for $244.5 million, in June 2010, and recently wrapped up $50 million in renovations to the buildings at 3000 and 3050 K St. NW.
Renovations included changes to the water fountain and the addition of an ice rink in the fall and winter. Those, among other improvements, earned MRP the Georgetown Business Improvement District's first-ever Community Leadership Award.
The sale to Principal Real Estate Investors, which represents a group of South Korean investors, netted MRP $75 million after renovations.
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