JLL arranges financing for 700 6th Street in Washington, D.C.
LEED® Platinum trophy office building in East End submarket
WASHINGTON, D.C., July 11, 2019 – JLL announces that it has arranged financing for 700 6th Street, a 298,917-square-foot, trophy office building in the East End submarket of Washington, D.C.
JLL worked on behalf of the borrower, USAA Real Estate, to secure the loan with Principal Real Estate Investors.
Completed in 2009, 700 6th Street is a LEED® Platinum trophy office building that is 91% leased to six tenants, including Eversheds Sutherland LLP and Cadwalader, Wickersham & Taft LLP. The 12-story office building offers highly efficient floorplates, a rooftop terrace with landmark views, four levels of underground parking and a tenant-only fitness center with locker rooms and showers. 700 6th Street is adjacent to the Capital One Arena, Washington, D.C.’s premier entertainment venue that is home to the Washington Capitals and Washington Wizards and hosts on average 220 events per year. This location provides immediate proximity to the East End submarket’s diverse amenity offerings, including more than 150 dining options, 65 plus retail stores, 29 hotels and more than 18,000 apartment units. Additionally, the trophy tower has unmatched multimodal accessibility located just steps from the Gallery Place – Chinatown Metrorail station and within close proximity to major vehicular thoroughfares such as Interstate 395 and Massachusetts Avenue.
JLL’s Capital Markets team representing the borrower included Cary Abod, Robert Carey and Evan Parker.
JLL 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. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.
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Deal secured by Holliday Fenoglio Fowler LP (“HFF”) prior to being acquired by JLL on July 1, 2019.
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. Our vision is to reimagine the world of real estate, creating rewarding opportunities and amazing spaces where people can achieve their ambitions. In doing so, we will build a better tomorrow for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.3 billion, operations in over 80 countries and a global workforce of over 91,000 as of March 31, 2019. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About USAA Real Estate
USAA Real Estate provides co-investment, acquisition, build-to-suit and development services for corporate and institutional investors and arranges commercial mortgage loans on behalf of affiliates. Its portfolio consists of office, industrial/logistics, multifamily, retail and hotel properties. USAA Real Estate is a subsidiary of USAA, a leading financial services company, serving military families since 1922. For more information, visit usrealco.com.
About Principal Real Estate Investors
Principal Real Estate Investors manages or sub-advises $79.4 billion in commercial real estate assets (as of March 31, 2019). The firm's real estate capabilities include both public and private equity and debt investment alternatives. Principal Real Estate Investors is the dedicated real estate group of Principal Global Investors, a diversified asset management organization and a member of the Principal Financial Group®.