$69M Financing Earmarked for DC Office Building

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Mirae Asset Global Investments has received $68.5 million refinancing for 1750 K Street, a 165,604-square-foot office building in Washington, D.C., from Bridge Investment Group Holdings, Commercial Observer has learned.

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JLL Capital Markets arranged the floating-rate loan and proceeds will be utilized to repay the existing loan on the property.

“The prestigious K Street location combined with an institutional sponsor made this an attractive financing opportunity for lenders,” Rob Carey, JLL’s senior director, told Commercial Observer.

Originally built in 1970, the fully-leased building includes five tenants, including The Federal Practice Group and Schnader Harrison Segal & Lewis LLP.

The 12-story building is situated in the heart of Washington’s CBD in the Golden Triangle neighborhood, close by numerous dining and shopping options. It’s also walking distance to both Farragut West and Farragut North Metro stations.

The JLL Capital Markets debt placement team also included Managing Director Cary Abod and Senior Managing Director Andrew Weir.