District of Columbia

Capital One Closes $90M Construction Loan for Mixed-Use Project in D.C.

by John Nelson May 15, 2015

WASHINGTON, D.C. — Capital One Bank has closed a $90 million construction loan for Grosvenor America’s new mixed-use development in Washington, D.C.’s Capital Riverfront District. The project, named F1RST, will be located adjacent to Nationals Park baseball stadium. F1RST, will span 300,000 square feet and comprise a 13-story apartment building, 170-room Residence Inn by Marriott and 22,000 square feet of retail space. The multifamily component will feature amenities such as a rooftop swimming pool and hot tub, outdoor kitchens, fitness center, lounge, courtyard garden, pet spa and concierge services. Grosvenor Americas has executed leases with Taylor Gourmet and Chop’t for the retail portion. The project team includes contractor Clark Construction Group and McCaffery Interests. Capital One plans to hold $50 million of the loan and is syndicating $20 million each to United Bank and TD Bank. Sadhvi Subramanian and Brian Gormley of Capital One’s Washington office originated the loan on behalf of Grosvenor Americas.

May 15, 2015

2144 California St. N.W. Washington, D.C.

District of Columbia Multifamily Southeast

CBRE Brokers $27M Sale of Apartment Community in Northwest D.C.

by John Nelson April 27, 2015

WASHINGTON, D.C. — CBRE has brokered the $27 million sale of The Envoy, now known as 2144 California St. N.W., a 113-unit multifamily community in northwest Washington, D.C.’s Kalorama Heights community. A joint venture between Federal City Property Investors LLC and CBD LLC purchased the asset from an undisclosed seller. Robert Meehling and Yalda Ghamarian of CBRE’s Washington, D.C., office represented the seller, along with CBRE’s Bill Roohan, Mike Muldowney, Michael Rudolph, Brian Margerum and Martha Hastings. HFF arranged the joint venture equity partnership and secured debt financing through United Bank. The HFF team included Brenden Flood, Alan Davis, Dave Nachison, Bret Thompson, Tim Stanton, Daniel McIntyre, Nicholas Demas, Chuck Berman and Tracey Appelbaum.

April 27, 2015

District of Columbia Loans Office Southeast

HFF Arranges $14.5M Acquisition Loan for D.C. Office Building

by John Nelson April 16, 2015

WASHINGTON, D.C. — HFF has arranged a $14.5 million acquisition loan for a 32,000-square-foot office building located at 1509 16th St. N.W. in Washington, D.C.’s Dupont Circle neighborhood. Dan McIntyre of HFF arranged the 10-year, fixed-rate loan through First National Bank on behalf of the borrowers, MidAtlantic Realty Partners LLC and UberOffices. In addition to the acquisition, the borrowers will use the loan proceeds to fund renovation/lease up costs. Originally built in 1909, the building will be fully renovated by early 2016 for UberOffices, which will occupy the entire office building.

April 16, 2015

District of Columbia Retail Southeast

Divaris Real Estate Brokers $5.5M Sale of Shopping Center in D.C.

by John Nelson April 16, 2015

WASHINGTON, D.C. — Divaris Real Estate Inc. has brokered the sale of Brookland Plaza, an 18,000-square-foot shopping center located at 3730 10th St. N.E. in Washington, D.C. Urban Investment Partners purchased the asset from Jan and Anna Slamen Family Trust for $5.5 million. Joseph Farina, John Camp and Amit Grover of Divaris represented the buyer and seller in the transaction.

April 16, 2015

District of Columbia Loans Multifamily Southeast

Greysteel Arranges $21.5M in Refinancing for Multifamily Portfolio in D.C.

by John Nelson April 15, 2015

WASHINGTON, D.C. — The Greysteel Co. has arranged $21.5 million to refinance a three-property, 193-unit multifamily portfolio located in Washington, D.C.’s Capitol Hill East neighborhood. Mark Bittenbender, Matthew Schwartz, Ari Firoozabadi and Paul Pierre of Greysteel arranged the loan through a conduit lender on behalf of the borrower, Capitol East Partners.

April 15, 2015

District of Columbia Office Southeast

Brookfield Property Partners Inks 50,000 SF Lease with Law Firm at 2001 M St. in D.C.

by John Nelson April 15, 2015

WASHINGTON, D.C. — Brookfield Property Partners LP has signed law firm Bracewell & Giuliani LLP to a 50,000-square-foot lease at 2001 M St. N.W., an office building currently under construction in Washington, D.C. The trophy office asset is slated to be delivered in spring 2016 and will feature a two-story lobby, rooftop terrace and a fitness center. The law firm is 2001 M. St.’s first major tenant, according to Brookfield. Tim Relyea, Malcolm Marshall and Sherry Cushman of Cushman & Wakefield represented the law firm in the lease transaction. David Bevirt, Cy Kouhestani and Melanie Stehmer-Townsend were Brookfield’s internal representatives in the lease deal.

April 15, 2015

District of Columbia Mixed-Use Southeast

First-Ever Crowdfunded Real Estate Project Opens in D.C.

by John Nelson April 14, 2015

WASHINGTON, D.C. — Fundrise has announced that the first-ever crowdfunded real estate project has opened in Washington, D.C.’s H Street Corridor. The project is known as Maketto, a communal food and retail market located at 1351 H St. N.E. The property will include a new restaurant from chef Erik Bruner-Yang of Toki Underground in D.C.; a DURKL retail store; gourmet coffee shop; bakery; and outdoor vendor stalls. Fundrise raised $325,000 from 175 individual, unaccredited investors who invested anywhere from $100 to $10,000 into the project. Maketto was not only Fundrise’s first offering when the platform launched in 2012, but the first real estate project in the country to allow investment from individuals online. Since its founding, Fundrise has activated more than 50,000 investors for real estate projects in top markets around the country, including landmark developments such as 3 World Trade Center in Manhattan. For a video on the Maketto project, click here.

April 14, 2015

District of Columbia Multifamily Southeast

Greysteel Brokers Sale of Apartment Community in Northeast D.C.

by John Nelson April 8, 2015

WASHINGTON, D.C. — The Greysteel Co. has brokered the sale of Hampton Park, a 24-unit multifamily that also includes an adjacent land parcel located at 1215-1225 49th St. in northeast Washington, D.C. The property is located in Washington’s Deanwood neighborhood and is situated three blocks from the Deadwood Metrorail station. The seller, Mary Jenkins, sold the asset to Saha Capital Investments LLC for an undisclosed amount. Ari Firoozabadi, Kyle Tangney, John Mullen, Lance Ahmadian, Mike Bediones, Jake Ying and Alicia Orkisz of Greysteel represented the seller in the transaction.

April 8, 2015

District of Columbia Office Southeast

HFF Brokers $109M Sale of Downtown D.C. Office Building

by John Nelson April 2, 2015

WASHINGTON, D.C. — HFF has brokered the $109 million sale of a 195,624-square-foot office building located at 2025 M St. N.W. in downtown Washington, D.C.’s Golden Triangle area. James Meisel, Dek Potts, Andrew Weir, Stephen Conley, Matthew Nicholson and Jessica Diorio of HFF represented the seller, a partnership between The Oliver Carr Co. and Clark Enterprises Inc. Mikeone EK purchased the asset, which was fully leased at the time of sale to tenants such as Kaplan, Radio Free Asia and Smith Bucklin. CBRE arranged acquisition financing for the transaction.

April 2, 2015

Residences on the Avenue Washington, D.C.

District of Columbia Loans Multifamily Southeast

Prudential Mortgage Provides $110M Acquisition Loan for D.C. Apartment Community

by John Nelson April 1, 2015

WASHINGTON, D.C. — Prudential Mortgage Capital Co. has provided a $110 million Fannie Mae loan to acquire Residences on the Avenue, a 335-unit apartment community in Washington, D.C.’s Foggy Bottom neighborhood. The property is the only high-rise residential building between Georgetown and the central business district. Completed in 2011, the community’s amenity package includes a fitness and wellness center with a spa, rooftop deck with a pool and grilling areas and 24-hour concierge services. Residences on the Avenue also includes 50,000 square feet of retail space split into five units. Whole Foods Market is the anchor in a long-term lease. Prudential provided the acquisition loan to an unnamed real estate investment manager.

April 1, 2015

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