WASHINGTON, DC-When FirstPotomac acquired 500 First St., NW, last month for $68million, the deal was notable because it was the REIT’s first coreoffice acquisition in the District. There was also a surprise instore for Kenneth Gentzel, SVP and managing director at NorthMarq:The permanent financing of $39 million, placed by HartfordInsurance Co., took only 20 days to close after the lender'sissuance of the term sheet. Gentzel arranged the financing withcolleague Gary McGlynn, also an SVP at NorthMarq.

In truth, the speed of this particular transaction’s financingis part of a larger picture that is just becoming clear to brokerssuch as Gentzel. Life companies, never the most transparent as totheir strategies and allocations with commercial real estate, seemto be stepping up their appetite and aggressiveness.

This is true not only in DC but on a national scale as well, inselect markets, at least. Life companies, for example, have beenmore inclined to club on deals that by themselves would be toolarge to absorb. The District, already a favored investmentdestination, has seen that and more in recent weeks and months.