Starwood Real Estate Income Trust Purchases Maryland Medical Office Building in $160 Million Deal
August 4, 2020 | Margaret Armour | Blue Vault
Starwood Real Estate Income Trust has purchased the Barlow Building, a 293,852 square-foot medical office building located in the Friendship Heights neighborhood of Chevy Chase, Maryland, for $160 million in a transaction facilitated by Cushman & Wakefield.
The 17-story building is an attractive property due to its being one of Washington D.C.’s most coveted medical buildings, located within 5 miles of three large hospitals managed by Johns Hopkins and MedStar. It is also easily accessible to affluent Maryland neighborhoods and downtown Washington D.C.
The building has been owned by Carr Properties since 2005 and includes an on-site deli, courtyard with a Starbucks, conference center, and Chevy Chase Athletic Club. The building was constructed in 1966 and renovated in 2004.
Sources: costar.com, The Commercial Observer
