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JLL Secures Recapitalization for 869K-SF D.C. Office Property

JLL has arranged the recapitalization of Midtown Center, an 868,834-square-foot, trophy office property in the heart of Washington, D.C. Midtown Center is the headquarters location for Fannie Mae.

Midtown Center has a prominent location at 1100 15th St. NW in the heart of Washington, D.C.’s central business district. The property is three blocks from the White House and is surrounded by more than 3,500 hotel rooms, numerous cultural attractions and high-end restaurants and retail offerings. Completed in 2018, Midtown Center is a LEED Gold-certified, trophy office property comprising two 14-story towers that are interconnected through three skybridges.

Jim Meisel, Andrew Weir, Matt Nicholson and Dave Baker of JLL worked on behalf of the developer and owner, Carr Properties, to source equity through a consortium of Korean investors led by IGIS Asset Management. The Korean consortium will own a minority interest in the REIT that owns the property.


Inside The Story

JLL’s Meisel

About David Cohen

David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector. Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA. David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.

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