Club lease remains unchanged after National Press Building sale

Affiliates of AEW Capital Management L.P. and Quadrangle Development Corp. bought the National Press Building this week for $167.5 million from the previous owner, Quadrangle.

The new ownership structure should have little impact on tenants in the building, including the National Press Club, because Quadrangle will continue to manage the property. There will be no change to the Club lease.

Club Executive Director Bill McCarren has met with representatives of AEW and Quadrangle in recent weeks to discuss the transaction and the new ownership arrangement.

Following is a story on the deal:
http://www.globest.com/news/1944_1944/washington/311579-1.html