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AFIAA selects Stream Realty for management of Class AA commercial asset
WASHINGTON, DC (March 3, 2015) – Stream Realty Partners, a national real estate services, development and investment firm, has recently been awarded property management and accounting responsibilities of Arch Square located at the prominent corner of 7th and H Streets NW in the heart of Chinatown.
Stream Realty Partners will manage the building on behalf of AFIAA, the investment foundation of 35 Swiss pension funds with a focus on international commercial properties. Dorothy Hamilton will lead Stream’s management team and will be assisted by Stacey Scarborough as well as Luis Romero, who will supervise building operations.
AFIAA acquired Arch Square in February 2015, after the property underwent an exceptional renovation that repositioned and expanded an iconic historic building into this trophy quality mixed-use asset. Arch Square features approximately 30,700 square feet of high street retail anchored by a flagship Walgreens and 25,000 square feet of Class AA office space anchored by the Alliance of Automobile Manufacturers.
Given its combination of high-end commercial space, nationally recognized location across from the Gallery Place/Chinatown Metro Station, and prestigious tenancy, Arch Square boasts an extraordinary profile that is unrivaled in the District of Columbia.
“AFIAA is a strategic, national client and we are thrilled by the opportunity to expand the relationship between our two firms at this prestigious assignment,” said Kyle Luby, Managing Partner – DC Metro Region, Stream Realty Partners. “Arch Square is one of the most recognizable projects in the city, and we are excited to be a part of the team that will further contribute to its world-class reputation.”
About Stream Realty Partners
Stream Realty Partners, L.P. is a full-service real estate investment, development and services company. Since its formation in 1996, Stream Realty has grown from its two original partners to a staff of over 550 real estate professionals nationwide with office locations in Atlanta, Austin, Charlotte, Dallas/Ft. Worth, Denver, Houston, Southern California, San Antonio and Washington, D.C.
Stream Realty leases and/or manages more than 120 million square feet of commercial buildings across the nation; completes over $1.6 billion in real estate transactions annually; and is considered one of the most active investors and developers in the Southwest.
About AFIAA
AFIAA is an investment foundation under Swiss law, which invests exclusively in real estate investments abroad. AFIAA offers tax-exempt Swiss pension funds an attractive and clear investment instrument to specifically enhance their portfolios. AFIAA maintains offices in Zurich, New York and Sydney. The portfolio currently includes 31 direct investments with sustainable growth potential in North America, Europe and Australia. The total investment volume amounts to approximately CHF 1.3 billion.
SOURCE – The Business Journals
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