The Investment Building in Washington, D.C., was purchased in 2001 for the closed-end US Office Fund KanAm/WestWind USA Office I and co-investor SITQ, the real estate arm of one of Canada's leading pension funds. It is a Class A office building situated in the immediate vicinity of the White House. Originally built in 1924, this 12-story building was fitted with state-of-the-art office space in 1997, at the same time preserving its valuable historic façade.
By the end of the year 2006 KanAm sold it's joint venture interest in the Investment Building. Investors posted an average pre-tax return on their investment of about 34 percent p.a. for a holding period of four years.
