W. R. Berkley Sells Real Estate Investment in Washington DC

W. R. Berkley, an insurance holding company, said early Thursday that it has sold its real estate investment at 1101 New York Avenue NW in Washington, D.C. The company expects to report a realized pre-tax gain of $120 million on the sale in Q3, which is in addition to $22 million in pre-tax earnings related to the property in prior years.

The sale is in keeping with the company’s long-term strategy of investing for total return in order to continue delivering superior long-term value creation to shareholders despite a low interest rate environment.

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