An exclusive club of HSBC Private Bank clients and HSBC Alternative Investments have acquired for $209.2 million a landmark property on Eye Street, Washington, DC.

1350 Eye Street is a landmark 381,074 rentable square foot office building located on a corner site overlooking Franklin Square Park, the bank said in a statement.

This acquisition follows a similar $200 million acquisition at the end of 2009, also located on Eye Street.

“This property is again one of the finest commercial properties in Washington, DC and fits our strategy of investing in high-quality, stable office buildings in prime locations with credit-worthy tenants,” said Chris Allen, chief executive of HSBC Private Bank’s alternative investment division.

Allen added that the acquisition shows HSBC Private Bank’s ability to “open doors” for its clients.

The office space is 100 per cent leased to tenants including Johnson & Johnson and Ford.

Per square foot, the group paid $550 for the new property.