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Equity Commonwealth Completes Sale of 1250 H Street

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Equity Commonwealth (NYSE: EQC) has completed the sale of its office property located at 1250 H Street in Washington, D.C. The property, which spans 196,000 square feet, was sold for $27.5 million.

Equity Commonwealth (NYSE: EQC) ha completato la vendita del suo immobile per uffici situato al 1250 H Street a Washington, D.C. La proprietà, che si estende per 196.000 piedi quadrati, è stata venduta per 27,5 milioni di dollari.

Equity Commonwealth (NYSE: EQC) ha completado la venta de su propiedad de oficina ubicada en 1250 H Street en Washington, D.C. La propiedad, que abarca 196,000 pies cuadrados, se vendió por 27.5 millones de dólares.

Equity Commonwealth (NYSE: EQC)는 워싱턴 D.C.의 1250 H Street에 위치한 사무실 건물 인수 거래를 완료했습니다. 이 건물은 196,000 제곱피트에 달하며, 2750만 달러에 판매되었습니다.

Equity Commonwealth (NYSE: EQC) a finalisé la vente de son bien immobilier de bureau situé au 1250 H Street à Washington, D.C. La propriété, qui s'étend sur 196 000 pieds carrés, a été vendue pour 27,5 millions de dollars.

Equity Commonwealth (NYSE: EQC) hat den Verkauf seiner Büroimmobilie in 1250 H Street in Washington, D.C. abgeschlossen. Die Immobilie hat eine Fläche von 196.000 Quadratfuß und wurde für 27,5 Millionen Dollar verkauft.

Positive
  • Successfully completed property sale for $27.5 million, improving liquidity position
  • Strategic divestment of office property asset
Negative
  • Reduction in property portfolio and potential rental income stream

Insights

The sale of 1250 H Street represents a notable transaction for Equity Commonwealth's portfolio optimization strategy. At $27.5 million for 196,000 square feet, the sale price equates to approximately $140 per square foot, which is below the average market rate for D.C. office properties. This reflects the challenging office market conditions in Washington D.C., where vacancy rates have remained elevated and property values have been under pressure. The disposition aligns with EQC's strategy of monetizing assets while maintaining a strong balance sheet with significant cash reserves. The company continues to hold substantial dry powder, positioning it for potential strategic acquisitions in more favorable market conditions.

CHICAGO--(BUSINESS WIRE)-- Equity Commonwealth (NYSE: EQC) announced it completed the sale of 1250 H Street, a 196,000 square foot office property, located in Washington, D.C., for a sales price of $27.5 million.

About Equity Commonwealth

Equity Commonwealth (NYSE: EQC) is a Chicago based, internally managed and self-advised real estate investment trust (REIT).

Regulation FD Disclosures

We use any of the following to comply with our disclosure obligations under Regulation FD: press releases, SEC filings, public conference calls, or our website. We routinely post important information on our website at www.eqcre.com, including information that may be deemed to be material. We encourage investors and others interested in the company to monitor these distribution channels for material disclosures.

Investor Contact

Bill Griffiths, (312) 646-2801

Source: Equity Commonwealth

FAQ

How much did Equity Commonwealth (EQC) sell 1250 H Street for?

Equity Commonwealth sold 1250 H Street for $27.5 million.

What is the size of the 1250 H Street property sold by EQC?

The 1250 H Street property is a 196,000 square foot office property.

Where is the office property that EQC sold located?

The office property is located in Washington, D.C.

Equity Commonwealth

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