CalPERS and Hines, through their National Office Partners LP, acquired 1900 K St., Washington, from 1900 K Street Associates. Terms were not disclosed. The acquisition of the Class A property represents the 11th since the partnership between Hines and the $177 billion California Public Employees Retirement System, Sacramento, started in July 1998.
The 337,000-square-foot office building is completely leased.
Also, the $90 billion New York State Teachers Retirement System, Albany, provided $130 million in financing for 50 Fremont Center, San Francisco, through L.J. Melody. Melody acted on behalf of National Office Partners. The 42-story Class A office buildings major tenants include Pillsbury, Deloitte & Touche and Merrill Lynch.