A 100% leased 85,000-square-foot office building at 1625 I St. in Washington has been acquired by an investor group led by HSBC Alternative Investments for $203.4 million. Real Capital Analytics said the purchase price of $587 per square foot works out to be one of the highest paid in the market during the past year. The HSBC group bought a 90% interest in the property, leaving the remaining 10% with the seller, Brookfield Properties, which will handle management of the building.

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