Penzance Management Grabs Watergate Office Building

Law360, New York (November 29, 2011, 2:45 PM EST) -- Private equity real estate investment company Penzance Management LLC has acquired an office building in the Watergate complex in Washington, the company announced Tuesday.

The property at 2600 Virginia Ave., NW in the Foggy Bottom neighborhood is one of two office buildings in the business and residential complex, site of the infamous Watergate Hotel. The Class A office building is 12 stories tall and has about 200,000 square feet of leasable space, Penzance said.

A Penzance spokeswoman said the transaction had closed Nov. 22. She declined...
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