White Plains, NY (PRWEB) November 25, 2004
Stonewater Partners announced these days that it has closed on the obtain of Park Center I, a 218,864 square foot workplace tower with structured parking in Alexandria, Virginia for $ 171/sf.

The creating is 100% leased serving as the headquarters for the USDAs Meals and Nutrition Solutions Division and is also headquarters to the Division of Defenses Army Audit Division.

Commenting on the transaction, Jeffrey Toporek, a Stonewater principal, stated “the transaction is a strategic DC metro region acquisition with significant close to term upside opportunities.

David Stade, also a Stonewater principal, added the acquisition marks Stonewaters initial multi-tenant property and further diversifies our portfolio with federal government credit now accounting for nearly 50%.

Stonewater assumed an current securitized mortgage at above market interest rate and low leverage.

For further details:

Jeffrey Toporek

Tel: (914) 285-3700

David Stade

Tel: (310) 209-0500

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