Brookfield Sells DC Office Building to Rockwood for $153M
An affiliate of Brookfield Properties has completed the sale of the Victor Building, located at 750 Ninth Street NW in Washington, D.C., to a private real estate firm affiliated with Rockwood Capital. The transaction closed at $153 million.
The nine-story office building, offering 350,000 square feet of space just steps from CityCenterDC, was sold for approximately $440 per square foot. Originally constructed in 1909, the Victor Building underwent extensive renovations in 2021. It was last sold in 2005 for $157.5 million and was previously owned by the Smithsonian Institution.
As part of the deal, Rockwood Capital secured a $113.4 million loan from Deutsche Pfandbriefbank AG. Brookfield used the proceeds to repay a $155.6 million loan from 2015. Although the property has an assessed value of $172.6 million, the sale price reflects the building’s strong tenant occupancy and overall quality.
Rockwood Capital, which manages $13.1 billion in assets, maintains a growing footprint in the Washington, D.C. area, with holdings in neighborhoods such as Bethesda, Tysons Corner, and Mount Vernon Triangle.
