WASHINGTON, DC-Rockpoint Group and MRP Realty secured a $160-million loan from MetLife Real Estate Investments on their recently acquired Washington Harbour development. The duo acquired the two-building, mixed-use property free of debt in June for $244 million and a mid-6% cap rate based on an 86% occupancy rate. MetLife is providing a five-year, fixed-rate loan, arranged by HFF’s Bill Asbill, Bob Donhauser and Cary Abod.

It is little secret that life insurers have re-entered the DC market. After first swooping in on multifamily transactions, they are now showing more appetite for office and retail deals such as Washington Harbour. At the end of April, in another example, 1776 K St., secured $28-million in permanent financing with a life insurance company. In another deal, 1801 L St., an office building in the CBD that is 95% occupied by the Treasury Department, secured $34 million with a fixed-rate, long-term loan provided by a life insurer.

Located at 3000 and 3050 K St., NW in the Georgetown submarket, Washington Harbour includes two towers totaling 532,601 square feet--of that amount, 456,376 square feet is for office use and 76,225 square feet for retail. The development is 86% leased to more than 20 tenants.