Sekisui House, a Japanese developer, has announced the sale of four apartment buildings in Washington D.C. to its sponsored REIT for $279 million. The properties included in this transaction are Botanica, The Branches, The Coterie and Crescendo which are all part of City Ridge – a mixed-use development with offices, retail spaces and multifamily apartments located at the former Fannie Mae headquarters. In 2016, Roadside Development and North America Sekisui House jointly purchased this ten-acre property for $85 million.
This acquisition marks the second asset outside Japan to be added to Sekisui House REIT’s portfolio after their recent purchase of a luxury apartment tower in Seattle from their sponsor for $328 million. This deal is set to close in November as part of Sekisui House’s strategy for proactive growth overseas and within the U.S market.
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