A Japanese developer is buying the Fannie Mae headquarters in Northwest D.C.
Sekisui House, Japan's largest homebuilder, is teaming up with D.C.-based real estate firm Roadside Development to purchase the main Fannie Mae building on Wisconsin Ave. along with about 10 acres of land around it.
The Washington Post reports the two companies are buying the property for $89 million.
Exact plans for the 228,000 square foot building and surrounding property haven't been revealed. According to a news release, "these companies share a common vision for creating a new development that blends mindful planning with design excellence for a dynamic mix of innovation, sustainability and superior quality to create long-term value for the community."
Fannie Mae will stay at Wisconsin Ave. until its new headquarters at 1100 15th St. NW is complete. During that time, Roadside Development will work with local officials and leaders to plan the redevelopment, the release said.
Sekisui's United States subsidiary, North America Sekisui House, is based in Arlington, Virginia.
