JLL arranges $68.5M refinancing of 1750 K St. in Washington, D.C.
The office building is fully leased to five tenants
WASHINGTON, D.C., June 17, 2020 – JLL Capital Markets announced today that it has arranged a $68.5 million refinancing for 1750 K St., a fully leased, 165,604-square-foot office building on K Street in the heart of downtown Washington, D.C.
JLL worked on behalf of the borrower, Mirae Asset Global Investments, to place the floating-rate loan with Bridge Investment Group Holdings. Loan proceeds will be used to repay the existing loan.
1750 K St. is a 12-story office building located in the heart of the Golden Triangle neighborhood in Washington, D.C.’s CBD. The prominent K Street address offers tenants a prestigious office location with walkable access to transit and the many dining and shopping options available in this premier live-work-play environment. The building is fully leased to five tenants and offers three sides of light and air, and flexible floorplates of approximately 12,000 square feet, making this building ideal for a variety of users.
The JLL Capital Markets debt placement team representing the borrower was led by Managing Director Cary Abod, Senior Director Rob Carey and Senior Managing Director Andrew Weir.
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 investment advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.
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JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $18.0 billion, operations in over 80 countries and a global workforce of more than 94,000 as of March 31, 2020. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About Mirae Asset Global Investments
Mirae Asset Global Investments was founded in South Korea and now operates worldwide across 12 markets, where it takes a collaborative approach in managing a fully diversified investment platform.
Powered by a unique perspective and the expertise of its global investment professionals, Mirae Asset Global Investments adapts to its clients’ evolving needs, providing them with innovative investments solutions and intelligent ways to achieve their investment objectives.
Mirae Asset Global Investments currently invests over $146bn on behalf of clients, giving the firm the scale and experience to identify opportunities in a changing world (AUM as of December 2019).
About Bridge Investment Group
Bridge Investment Group is a privately held real estate investment management firm with $20.2 billion in assets under management. Bridge combines its 4,000+ person, nationwide operating platform with specialized teams of investment professionals focused on select U.S. real estate verticals: multifamily, office, seniors housing, affordable housing, opportunity zones and debt strategies direct lending.