Qatari royal family buys key US property
DOHA, November 16, 2015
Qatar's royal family has acquired a 219,000-sq-ft mid-block building near the White House for $107.9 million, said a report.
The property 1575 Eye St. NW, was bought by the family through Duwaliya US Real Estate, the American real estate affiliate of Qatari's ruling Al Thani family, reported the Washington Business citing sources familiar with the deal.
Duwaliya US Real Estate has paid $107.9 million, or roughly $492 per square foot, for 1575 Eye St. NW, according to the DC Office of Tax and Revenue.
The US firm acquired the mid-block building between 15th and 16th streets near the White House from an affiliate of Carr Properties, which retained the brokerage formerly known as DTZ earlier this year to market the property to prospective buyers, stated the report.
The ruling family has been seeking commercial acquisitions across the globe, and its British affiliate, Duwaliya UK Real Estate Holdings, paid $110 million for a 90,000-sq-ft office building in London earlier this year, it added.