$51 Million Office Financing Secured for 1919 M Street in Washington, DC; Arranged by Cassidy Turley
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$51 Million Office Financing Secured for 1919 M Street
in Washington, DC; Arranged by Cassidy Turley
WASHINGTON, DC - Cassidy Turley, a leading commercial real estate services provider in the U.S., announced today that it has arranged $51 million in financing for 1919 M Street, NW, a 278,772 square foot, Class A office building located in Washington, DC’s Central Business District submarket.
Executive Managing Director Phil Mudd and Vice President Brad Geiger of Cassidy Turley arranged the permanent financing on behalf of 1919 M Street Associates Limited Partnership. The loan was provided by a life insurance company.
“There was a lot of interest in this financing from several major institutions due to the location, quality of the asset and the strong local partnership,” said Mr. Mudd. “ The interest in and the financing of 1919 M Street validates ‘The Golden Triangle’ as the ideal business location in the Washington, DC market.”
Built in 1967 by the current owners – the Smith-Kogod and Edward H. Kaplan families –and renovated in 2000, 1919 M Street is located at the corner of 20th and M Streets with access to major thoroughfares such as M Street, 20th Street and 21st Street and multiple Metro Stations (Dupont Circle, Farragut North, Farragut West) serving the red, blue and orange lines. The building provides tenants with large floorplates, expansive window lines, and features on-site amenities that include a tenant-only fitness facility, 24-hour lobby attendant and first-floor retail.
1919 M Street achieved LEED gold certification in 2012 from the U.S. Green Building Council.
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. With headquarters in Washington, DC, 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.comfor more information about Cassidy Turley.