Investcorp, a major provider and manager of alternative investment products, announced that its US-based real estate arm has acquired a Class A, quality office building in Washington, DC, for approximately $180 million.

This acquisition is stated to be in consistence with Investcorp’s recent track record of acquiring top quality, cash flowing properties in the United States and also represents the first acquisition under a new initiative focused on core-quality, long-term hold assets in key gateway markets.

The property, 733 10th Street, is a 170,813 square feet, 100 percent occupied, luxury office building located in the heart of Washington, DC’s East End office submarket, in close proximity to high-end retail stores, premium hotels and restaurants, two major Metro stations and well-known sports and entertainment venues.

Yasser Bajsair, MD at Investcorp in Saudi Arabia, said: “This is the type of acquisition that is very appealing to us. In the last 12 months alone, Investcorp’s total US real estate acquisitions have exceeded $1.5 billion in gross asset value and we believe that we will be able to continue with this momentum through 2016.”

Investcorp purchased the property with its joint venture partner ScanlanKemperBard.

Investcorp’s real estate group continues to identify alternative investment opportunities that it believes will deliver superior returns.

In the last 12 months, Investcorp’s total real estate acquisitions have exceeded $1.5 billion in gross asset value.

Since 1996, Investcorp has completed over 400 property investments totaling more than $13 billion in value.