WASHINGTON, DC-Perseus Realty Capital, a private, locally-based real estate investment bank, has about $200 million of debt and equity transactions aimed at the DC-area market and it expects to close those deals within the next couple of months, VP Lindsay Stroud tells GlobeSt.com. That $200 million follows another transaction the firm announced this week--the placement of $23.17 million in non-recourse financing for Monument Realty’s acquisition of 2055 L St., NW earlier this year.

Monument Realty and equity partner Angelo, Gordon & Co. acquired the property for $12.8 million with plans to invest another $18 million in renovations. Eventually they plan to lease the space that is remaining--the building is partially an office condo--for $45 per square foot, Monument CEO Michael Darby told GlobeSt.com in an earlier interview. Darby did not return a call to GlobeSt.com to reconfirm these plans.

Even though 2055 L St., NW is an existing building, this deal looked and smelled very much like a construction loan, Stroud says. “They were just buying the sticks and bricks,” he says. “The renovation is speculative. They don’t have any tenants in place.” Such deals, however, are becoming easier to cobble together as the capital markets continue to open to real estate projects, especially in markets such as DC.

That demand is in large part why PRC’s next wave of deals is largely, locally sourced, according to Stroud, who adds that PRC has been active in the U Street and 14th Street corridors with multifamily acquisition and construction. “The capital markets are very interested in the DC area and there is plenty of opportunity to target,” he says, “especially in the multifamily and office sector.”