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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.
- ◦Financing
