Grosvenor Completes $82M Refi of Mixed-Use at 1500 K Street in Washington
Grosvenor has refinanced the mixed-use building 1500 K Street, NW in Washington, DC with an $82.1-million first mortgage provided by Helaba. An Eastdil Secured team arranged the financing.
The financing transaction follows the completion of Grosvenor’s $20-million renovation focused on sustainability and tenant comfort. The property achieved LEED Gold, Energy Star, Wired Gold, and WELL Heath-Safety certifications following the improvements, which aligns with Grosvenor’s commitment to achieving net zero operational carbon emissions by 2030.
The 1928-constructed building is a 262,190-square foot office and retail property overlooking McPherson Square. It is one block from the McPherson Square Metrorail Station with a Walk Score of 98.
Grosvenor is also currently building a 240-unit residential development at 340 Morse Street in Union Market and working on a residential and school mixed-use redevelopment project in Georgetown. It acquired Grosvenor Tower, a 237-unit multifamily residential property located in North Bethesda, MD, in July 2022.
Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group.
When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.
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