Jul 13 2017

Ocean West Capital Partners And Hana Asset Management Co., LTD Complete Purchase Of NASA Headquarters Building – Two Independence Square In Washington D.C.

LOS ANGELES, July 13, 2017 /PRNewswire/ — A buying group led by Ocean West Capital Partners and Hana Asset Management Co., LTD. has closed on the acquisition of Two Independence Square in Washington D.C. Constructed in 1992 as the headquarters for NASA, the Property is located three blocks off the National Mall in the Southwest Submarket of Washington D.C. Designed by Kohn Pederson Fox Associates, the Property is a 606,000 square foot, 9-story postmodern office building.

NASA, who occupies 99% of the Building, renewed its lease at the Property in 2011 with a lease term running through 2028. The building houses NASA leadership who provide overall guidance and direction to the US government. The James E. Webb Memorial Auditorium hosts agency news conferences and social events. A lending library, the history office and archives along with production facilities for NASA TV are also housed in the Building. The purchase price for the property was approximately $360 million and closed escrow on July 5, 2017.

US Asset Manager/Property Manager: Ocean West Capital Partners – Ocean West is an experienced real estate investment and management firm with a long history of operating Class “A” assets. Since its inception in 2010, Ocean West has completed over $3.0 billion of commercial real estate transactions and its principals have managed over 50 million square feet of office properties throughout the U.S.

Owner: Hana Asset Management Co., Ltd. – A subsidiary of Hana Financial Group, Hana Asset Management is the largest financial group in Korea, consisting of more than 21 subsidiaries including banks, securities, trusts, asset management, investment banks and life insurance. With 23,000 professionals worldwide, Hana Asset Management holds USD 5 billion of Assets under Management throughout Asia, the Americas and Europe.