backATLANTA, Oct. 29, 2015 — King & Spalding advised Columbia Property Trust, Inc. in the sale of a 49 percent stake in a Washington, D.C., office property to Blackstone Property Partners, Blackstone’s Core+ real estate investment unit.
The 687,000 square-foot property, known as Market Square, is a set of twin 13-story buildings located at 701 and 801 Pennsylvania Ave. NW, between the U.S. Capitol and the White House. The deal was completed on Oct. 28.
The King & Spalding team on the transaction included Capital Transactions and Real Estate partners Tim Goodwin and Chris Hoffman and associate Joe Quinn, with corporate and finance assistance from partners Alan Prince, Alana Griffin and Craig Lee, and tax advice from partner Peter Genz.
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