CBRE Global Investors, real estate investment arm of U.S.-based commercial real estate company CBRE Group, has acquired the Warner Building in Washington for $376.5 million from property developer JBG Smith.
The acquired building, a 583,453 square foot class A office property, was 98 percent leased at the time of offloading.
JBG Smith will use the net funds to deleverage its balance sheet and provide capacity for future investment opportunities.
In October, JBG Smith also divested the Lion Building in Washington D.C for $65 million.