$21 Million Non-Performing Office Loan  |  Washington, D.C._Propriété à vendre
$21 Million Non-Performing Office Loan  |  Washington, D.C._Propriété à vendre
Washington, DC, US, Americas

$21 Million Non-Performing Office Loan | Washington, D.C.

Description de l'actif

Jones Lang LaSalle ("JLL") has been retained on an exclusive basis by the Seller to arrange the sale of a $21 million non-performing office loan (the "Loan" or "Note"). The Loan is secured by the first-lien deed of trust on the fee simple interest in a CBD office property in Washington, D.C. (the "Property" or "Collateral"). As of December 2023, the Loan is non-performing due to monetary default.


Constructed in 1947 and renovated in 1994, the 12-story building is comprised of 150,788 SF of office space, 17,310 SF of retail space, and 2,148 of storage space. Per JLL in-place UW, the Property is 57.0% leased with 4.5 years WALT (39% leased & 3.3 years WALT net coworking management agreement). Situated on a 0.35-acre or 15,276 SF site, the Property is located at the intersection of 18th Street NW and M Street NW, where Dupont Circle meets the CBD. With efficient floor plates and abundant natural light via four sides of glass, the Property’s design enables investors to pursue various business plans, whether as boutique office or as a conversion to an alternative use. Furthermore, the Property's MU-9B zoning allows for by-right residential, hospitality, and mixed-use. 

 

The offering presents investors the opportunity to acquire the Loan at a favorable basis, significantly below replacement cost.

...

Attributs

Superficie du bâtiment nette
15 816 mètres carrés
Occupation
57 %
Année de construction
1947
Superficie du terrain brute
0,14 ha
Année de rénovation
1994
Taux d'intérêt actuel
3,1 %
Date d'échéance
01/11/2031
Solde du principal non payé
28 745 850 $
Statut du prêt
Non-Performing

Média

Points forts de l'investissement

  • 170,246 RSF Corner Building Prominently Located at the intersection of M Street NW and 18th Street NW Where Dupont Circle Meets The CBD--One of Washington D.C.’s Most Vibrant Corridors


  • Boutique Floor Plates with Abundant Natural Light and Air Conducive to Significant Repositioning Optionality--Existing MU-9B Zoning Allows for By-Right Residential, Hospitality, and Mixed-Use


  • Irreplaceable, Transit-Oriented Location--Within Walking Distance to Four Different Metro Lines (Red, Blue, Orange, and Silver) in Addition to Immediate Vehicular Access to the Region’s Most Convenient City to Suburb Thoroughfares


  • Offered at a Historically Low Basis

Contactez les courtiers

$21 Million Non-Performing Office Loan | Washington, D.C. (0 Propriétés)
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Dernière mise à jour
27 mars 2024