Office
Debt & Equity

NorthMarq Capital negotiates $42 million in acquisition financing for 1250 23rd Street NW in Washington, D.C.

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.

Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales, loan servicing, and fund management. The company combines industry-leading capabilities with a flexible structure, enabling its national team of experienced professionals to create innovative solutions for clients. Northmarq's solid foundation and entrepreneurial approach have built an annual transaction volume of more than $39 billion and a loan servicing portfolio of more than $76 billion. Through the 2022 acquisition of Stan Johnson Company and Four Pillars Capital Markets, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit: www.northmarq.com.

1250 23rd Street NW
Debt
$42,000,000