(Source: Reuters)

Private banking clients of HSBC (HSBA.L), Europe’s biggest bank, have paid $203.4 million for a 90 percent stake in a office building in Washington DC’s central business district from Canada’s Brookfield Properties.

The fully occupied property on 1625 Eye Street, located two blocks from the White House, contains 370,000 square feet of offices and 15,000 square feet of retail space, HSBC Alternative Investments and HSBC Private Banking said on Monday.

Read Daryl Loo’s full article “HSBC pvt bank clients buy DC office stake for $203 mln” in Reuters (January 4, 2009).

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