The owners of a recently renovated downtown D.C. office building at 1750 H St. NW have defaulted on their mortgage, prompting a foreclosure auction next month, Washinton Business Journal reported. The 123,000-square-foot, 10-story building, located near the Farragut West Metro station and the White House, is set for a June 20 sale by Alex Cooper Auctioneers Inc. The outstanding mortgage, held by State Farm Life Insurance Co., is $32.7 million and was due to mature on Aug. 1, 2027. 

Despite renovations that attracted World Food Program USA as a tenant, the property struggled with occupancy and cash flow. Office Properties Income Trust, a part owner, cited insufficient cash flow to service debt as the cause of default. The building’s owners include FP CPT 1750 H Street LLC, managed by Matthew Brown of The RMR Group Inc. State Farm, having filed for a receiver in April due to missed payments, has now appointed Transwestern Carey Winston LLC to manage the property.