WASHINGTON, DC - Cassidy Turley, a leading commercial real estate services provider in the U.S., announced today that it has arranged financing for 1100 L Street, NW, a 308,000 square foot freestanding office building located in Washington, DC‘s East End.
Cassidy Turley Executive Managing Director Phil Mudd and Vice President Brad Geiger represented the owner, Twelfth and L Streets Limited Partnership, an entity affiliated with Blake Real Estate Inc., in the transaction with a life company lender that provided a 10-year, fixed-rate loan at a sub 3 percent interest rate.
1100 L Street is 100 percent leased to three tenants, anchored by two government agencies and CACI. The property has efficient, 28,000 square feet, L-shaped floor plates and four and one-half levels of underground parking. The property is equidistant to both the Metro Center and Mount Vernon Square/Convention Center Metrorail stations, and the surrounding area offers a multitude of amenities including restaurants, retail, hotels, fitness centers and entertainment venues.
“The loan was highly competed for by life companies and banks, all of whom shared strong interest due to Blake’s high-quality local sponsorship,” stated Mr. Mudd.
About Cassidy Turley
Cassidy Turley is a leading commercial real estate services provider with more than 3,800 professionals in more than 60 offices nationwide. The company represents a wide range of clients—from small businesses to Fortune 500 companies, from local non-profits to major institutions. The firm completed transactions valued at $22 billion in 2012, manages approximately 400 million square feet on behalf of institutional, corporate and private clients and supports more than 23,000 domestic corporate services locations. Cassidy Turley serves owners, investors and tenants with a full spectrum of integrated commercial real estate services—including capital markets, tenant representation, corporate services, project leasing, property management, project and development services, and research and consulting. Cassidy Turley enhances its global service delivery outside North America through a partnership with GVA, giving clients access to commercial real estate professionals in 65 international markets. Please visit www.cassidyturley.com for more information about Cassidy Turley.