Mitsui Lands First Potomac's Majority Interest In DC Office

Law360, New York (September 5, 2012, 2:51 PM EDT) -- Mitsui Fudosan America Inc. has agreed to buy First Potomac Realty Trust's 95 percent stake in a 170,000-square-foot office development project in Washington for $43.7 million, the New York-based real estate investor announced Wednesday.

Mitsui Fudosan, the U.S. unit of Japan's largest real estate company, will take over First Potomac's interest in the development of a Class A office building at 1200 17th St. N.W., which is undergoing demolition and is expected to be completed in the fourth quarter of 2014.

“We're excited to expand our...
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