MetLife, Investor Pay $730M For Constitution Center

Law360, New York (December 13, 2012, 6:47 PM EST) -- MetLife Real Estate Investors and an institutional partner have purchased Constitution Center in Washington, Clarion Partners LLC announced Thursday, in a deal reportedly worth $730 million.

The partnership between MetLife and the institutional investor, whose identity was not disclosed, was created to acquire and manage a group of office buildings in major U.S. cities, according to Clarion Partners, which advises the institutional entity. The acquisition of Constitution Center allows it to add Washington's largest privately owned office building to its portfolio, Clarion said.

“We are pleased...
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