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Case Study

Center for Strategic and International Studies - Washington DC

The Center for Strategic & International Studies (CSIS), a high-profile, foreign policy research organization, engaged JLL to create a strategy for a new headquarters space to replace the 90,000 s.f. it leased in an older building in Washington DC.

After reviewing lease versus buy options, JLL acquired one of the few remaining land parcels in DC’s Central Business District and secured financing for the land acquisition and construction.

JLL provided project development services through the post-construction phase of the building process. Examining financing structures to provide the lowest cost of capital and most financial flexibility, JLL worked with financial institutions to receive credit enhancement and underwriting term sheets to negotiate the best financial deal.

JLL negotiated $33.6M in tax-exempt financing with a letter of credit fee for the land acquisition in March 2008. In 2011, JLL assisted CSIS in obtaining an investment grade rating from S&P and securing financing for the construction of its building through a competitive process. The new 130,000 s.f. build to suit, state of the art headquarters was completed in September 2013 when CSIS’s lease in its location at 1800 K Street was set to expire.

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