
554-568 Eighth Avenue
270 West 38th Street, New York, NY, 10018, US
Jones Lang LaSalle (“JLL”) has been retained on an exclusive basis by the Seller to arrange the sale of a $140 Million Sub-Performing Office Loan (the “Loan” or “Note”). The Loan is secured by the first priority Deed of Trust on the fee-simple interest in a Class A office property located in Washington, D.C. (the “Property” or “Collateral”). Scheduled to mature in June 2026, as of April 2026, the Loan is sub-performing with an unpaid principal balance of $140,000,000.
Delivered in 2009, the Property is a 305,759 square-foot, Class A office building in the heart of Washington D.C.’s sought-after East End submarket, prominently situated near the soon-to-be-renovated Capital One Arena. Offering tenants an unparalleled live-work-play experience, the Property provides direct access to the Gallery Place-Chinatown Metrorail station and is surrounded by the high-end retail, dining, and entertainment of Penn Quarter, Chinatown, and CityCenter DC. Furthermore, the Property benefits from 159 parking spaces via an underground parking garage. As of September 2026, the Property is 79% leased with 7.8 years of WALT.
The offering presents investors the unique opportunity to acquire the Loan at a favorable basis, significantly below replacement cost, with a potential path to ownership due to a near term maturity of the Loan.
Path To Ownership
The Loan provides investors the ability to potentially step into the ownership position on a high-quality office building at an attractive basis due to an upcoming note maturity.
Durable In-Place Cash Flow
The Property’s 7.8-year WALT is anchored by two prominent long-term tenants, providing a highly secure and durable income stream with minimal near-term rollover risk.
Amenity Rich and Tenant Focused Location
The Property has easy accessibility to some of the city’s most prominent retail and entertainment attractions including CityCenter DC, Chinatown, Capital One Arena, and Penn Quarter.
Unparalleled Connectivity
The Property sits steps from the Gallery Place-Chinatown station, a primary transit nexus providing direct access to three Metro lines, Reagan National Airport, and Union Station.
