NorthMarq Capital negotiates $42 million in acquisition financing for 1250 23rd Street NW in Washington, D.C.
1250 23rd Street NW
WASHINGTON, D.C. (May 3, 2015) – Gary McGlynn, senior vice president/co-managing director of NorthMarq Capital’s Washington, D.C. office arranged acquisition financing of $42 million for 1250 23rd Street NW in Washington, D.C. The transaction was structured with interest-only financing. The property, a 128,571 sq.ft. class “A” office building, is located at the convergence of the Central Business District and West End submarkets in downtown Washington, one of the nation’s premier office markets. Both the DuPont Circle and Foggy Bottom-GWU Metrorail stations are within walking distance. Major tenants include The Louis Berger Group, Inc. and ProAssurance.
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Northmarq is one of the largest privately held commercial real estate firms in the United States, combining a nationwide presence with deep local expertise. With more than 50 offices across the country, we provide a full suite of debt, equity, investment sales, loan servicing and fund management solutions for a comprehensive range of property types. Our unique structure allows us to connect clients with the best opportunities, yet be nimble enough to ensure access to every expert across our company. The firm manages a loan servicing portfolio of over $78 billion and has completed $69.5 billion in transactions over the past three years. At Northmarq, collaboration fuels results, helping clients achieve success in every market, nationwide. For more information, visit www.northmarq.com.
