Monday Properties and neo capital today announced their joint venture acquisition of Shirlington Tower, a 233,446 square-foot office building located in the heart of Shirlington Town Center in Arlington, Virginia. Shirlington Tower is 97% leased to an array of notable tenants including the U.S. Navy, HNTB Corporation, The National Alcohol Beverage Control Association, and Halfaker & Associates. Onsite amenities include a 12,000 square-foot fitness center, outdoor courtyard, and a variety of retail stores and restaurants.
“The DC region has again demonstrated its resiliency to economic downturns. Despite the turbulent market conditions brought on by COVID-19, the area remains attractive to businesses, investors, and residents,” said Wes Machowsky, Senior Vice President of Acquisitions and Capital Transactions at Monday Properties. “The acquisition of Shirlington Tower is the result of a collaborative effort by all parties involved, and we are well-positioned to continue to strategically grow our portfolio in spite of the pandemic-related headwinds confronting the capital markets.”
Shirlington Tower is located less than two miles from both National Landing—home to the future Amazon HQ2 and Virginia Tech’s Innovation Campus—and the Rosslyn-Ballston Corridor. Shirlington Tower is connected to Shirlington Town Center, with extensive multifamily and retail product, and experiential amenities that include an AMC movie theatre, Harris Teeter, and Arlington County’s Main Library, along with restaurants, shops, and entertainment options.
A representative from neo capital said “Our acquisition of Shirlington Tower is an important part of our strategic portfolio growth in the United States. This is exactly the type of asset and market neo capital is looking to invest in—exceptional job growth, great regional connectivity, and best-in-class tenants. We see a lot of value in the DC region and will look to invest further here and in other strong performing U.S. cities.”
“Shirlington Tower marks the second acquisition Monday Properties made in the Shirlington submarket within the last two years, and we are pleased to have partnered with neo capital,” said Tim Helmig, Managing Partner at Monday Properties. “We remain bullish on forward-looking regional market fundamentals and intend to continue our momentum as active buyers in the marketplace.”
About Monday Properties:
Monday Properties is a dynamic real estate investment firm that serves as an owner, operator and developer in highly targeted, supplied constrained markets. Monday Properties delivers unique commercial and residential investment offerings that transform communities, including the U.S. corporate headquarters of Nestlé, which resides in Monday Properties’ world-class office tower, 1812 North Moore Street. Since 2002, the firm has completed over 70 property transactions representing $14 billion in capital value and 30 million square feet. For more information on Monday Properties, please visit mondayre.com.
About neo capital:
neo capital is an independent Investment Advisory and Asset Management company. It has strong expertise in sourcing and managing real estate investments globally and has nearly $1 billion of assets under management. The company has several projects underway in the U.K., Western Europe and U.S., and aims to double its AUM over the next 3 years.
neo capital’s philosophy is to provide best in class investment opportunities to their clients so they can gain exposure to U.K., Western European and U.S. real estate markets.