The requested news item does not exist. Please return to News
GE Capital Real Estate provided the $9.5 million floating rate loan for Binswanger
WASHINGTON, May 3, 2013 — Jones Lang LaSalle’s Capital Markets experts today announced the firm has secured $9.5 million in senior debt financing for 1808 Eye Street, NW, located in downtown Washington, DC between 18th and 19th Streets, NW and directly across from the Farragut West Metro station. The asset is part of a portfolio owned by an international investor and advised by Binswanger. GE Capital Real Estate provided the financing for this building which totals 32,529 square feet and has historically attracted a credit-worthy roster of small and mid-size tenants seeking a high profile location.
Managing Director Wesley Boatwright and Executive Vice Presidents Mike Yavinksy and Jon Goldstein led the Jones Lang LaSalle team on this transaction. Andrew Harris, 1808 Eye Street’s Asset Manager stated, “The ownership of 1808 Eye Street is very satisfied with the outcome of this refinancing. The entire process was handled in a first class manor from application to closing and the aggressive time frame was met without delay. In the challenging capital environment we find ourselves it is important to have a quality team representing you. We are pleased to have had JLL representing us in this transaction and look forward to having GE as our new partner.”
The nine-story, boutique Class A office building was constructed in 2000 and includes ground floor retail. It is ideally situated just one block north of Pennsylvania Avenue and two blocks southwest of the intersection of K and Connecticut Avenues, a prominent address for the area’s decision makers. As a result, the building has attracted a desirable roster of retail and office tenants seeking a downtown presence with close proximity to DC’s major economic drivers and its unlimited amenity base, along with adjacency to Metro. The building’s small floorplates provide opportunities for full-floor identity, a rarity for small and mid-size tenants, while its elegant lobby finishes, 9’ ceiling heights, balconies and extensive window line complement 1808 Eye’s extraordinary architectural presence.
About BinswangerBinswanger is an international real estate organization providing a complete range of services to corporate and institutional clients through offices around the world. The Company is headquartered in Philadelphia, Pennsylvania and is coordinated through 29 regional offices in the United States, Argentina, Brazil, Canada, Chile, China, Colombia, Denmark, France, Germany, India, Japan, Korea, Mexico, Netherlands, Peru, Puerto Rico, Singapore, Thailand, United Kingdom, and Venezuela. The Company provides worldwide exposure through these regional headquarters, as well as through our additional offices and people worldwide in North America, South America, Europe, the Middle East, and Asia. For more information on Binswanger please visit www.binswanger.com.About GE Capital Real EstateGE Capital Real Estate is an extension of GE's rich heritage of building and supporting growth. Since 1973, we have been investing in the commercial real estate sector and currently have debt & equity activities across North America, Europe and Asia-Pacific.Our unique perspective as both a lender and an operator benefits our borrowers and tenants in ways that few other financial institutions can. We bring insight, knowledge and expertise to every transaction. And as a result, businesses that work with GE Capital Real Estate benefit from the global know-how and expertise of GE.About Jones Lang LaSalle Capital MarketsJones Lang LaSalle Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether a sale, financing, repositioning, advisory or recapitalization execution. In 2012 alone, Jones Lang LaSalle Capital Markets completed $63 billion in investment sale and debt and equity transactions globally. The firm’s dealmakers completed $60 billion in global investment sales and buy-side transactions, equating to nearly $240 million of investment trades completed every working day around the globe. The firm’s Capital Markets team comprises more than 1,300 specialists, operating all over the globe.
For more news, videos and research resources on Jones Lang LaSalle, please visit the firm’s U.S. media center Web page. Bookmark it here: http://www.us.am.joneslanglasalle.com/UnitedStates/EN-US/Pages/News.aspx
About Jones Lang LaSalle Jones Lang LaSalle (NYSE:JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. With annual revenue of $3.9 billion, Jones Lang LaSalle operates in 70 countries from more than 1,000 locations worldwide. On behalf of its clients, the firm provides management and real estate outsourcing services to a property portfolio of 2.6 billion square feet and completed $63 billion in sales, acquisitions and finance transactions in 2012. Its investment management business, LaSalle Investment Management, has $47.7 billion of real estate assets under management. For further information, visit www.jll.com.
+1 312 228 2139
+1 312 228 3127