JL Properties, CIRI, new building owners

JL Properties Inc., in partnership with Washington Capital Management and Cook Inlet Region Inc., is the new owner of the ConocoPhillips office complex in downtown Anchorage.

The Stan Johnson Co., representing the previous owner, a privately held investment and management company, said in a Nov. 20 statement that the complex had been sold to a partnership of institutional investors.

In a Dec. 16 statement, JL Properties Inc., a real estate development and investment firm, said a partnership it led had acquired the complex.

JL Properties is a real estate development and investment firm, with portfolio exceeding $2 billion and more than 2 million square feet of office property and 5,000 residential units in Alaska. Washington Capital Management is an investment advisory firm focused on equities, fixed income, mortgages and real estate with a portfolio of real estate equity investments in excess of $1 billion in the Western U.S. CIRI is an Alaska Native regional corporation with worldwide investment and operating interests, with real estate investments in Alaska including the Tikahtnu Commons Retail and Entertainment Center, the newly announced Fireweed Business Center and 11000 C Street, a commercial office development at C Street and Klatt Road.

The ConocoPhillips office complex, which includes the tallest office building in the state, has more than 677,000 square feet and sits on 1.7 acres of land, JL Properties said. ConocoPhillips is the primary tenant.

—Petroleum News