NTT URBAN DEVELOPMENT : Acquisition of Office Building in Washinton, D.C., United States

Acquisition of Office Building in Washington, D.C., United States NEWS Release

January 6, 2016

Acquisition of Office Building in Washington, D.C., United States

NTT Urban Development Corporation (head office: Chiyoda-ku, Tokyo; President and Chief Executive Officer: Sadao Maki) has acquired an office building "1015 18th Street", in Washington, D.C. through its overseas United States subsidiary, UD USA Inc. This building is the first property acquired in Washington,

1. and the sixth building acquisition in the United States. In addition, this property is a joint venture project with "Normandy Real Estate Partners", a local development company with extensive experience mainly in New York, Boston, and Washington, D.C. areas in the United States.

   
   

   The property is located in the heart of Washington, D.C. near K Street, an area with a concentration of offices. In its vicinity are Farragut North and Farragut West stations, offering extremely convenient access to multiple subway lines. Moreover, it stands in an area very rich in amenities with popular restaurants and the lush green Farragut Square.

   NTT Urban Development will further increase the property's value to offer an ever-more attractive environment to tenants through renovations including renewal of the existing buildings exterior, entrance, and equipment installations.

   
   

   NTT Urban Development is determined to strengthen its revenue base in the United States though this venture while continuing to further promote and expand its business.

   
   

   • Outline of Building

Name	1015 18th Street
Location	1015 18th St NW, Washington, D.C.
Construction completed	1970
Number of floors	11 floors above ground; 3 floors below ground
Rentable area	106,000sf (approximately 9,847 m2)
Application	Office, commercial facilities

*Achievements in the United States up until now

• October 2013 Establishment of a subsidiary in the United States

• December 2013 Participation in redevelopment of "119 West 25th Street" in Manhattan, New York, New York

• January 2015 Acquisition of "141 Tremont Street" and "27 School Street" in Boston, Massachusetts

• July 2015 Acquisition of "Two Oliver Street" in Boston, Massachusetts

• August 2015 Business participation at "575 Lexington Avenue" in Manhattan, New York, New York

• Image of the exterior

  
  

• Map of surrounding area