$42M Financing Deal Closes for 2000 K St.

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WASHINGTON, DC-A financing package valued at $41.5 million has come to a close for 2000 K St. NW. The property, according to District real estate records, has a current assessed value of $44.5 million and last changed hands in 1997.

MetLife Real Estate Investments–with Sue Busick and Brian Casey of the firm’s Washington, DC office at the helm–orchestrated and provided the loan for the 141,200-sf office property on behalf of a corporate pension fund represented by VEF Advisors, a privately held real estate investment and management company. The funds were provided through a 10-year first mortgage at an undisclosed fixed rate which, MetLife’s Brian J. Fox tells GlobeSt.com, replaced or refinanced an existing loan and left the borrower with cash to pocket.

The class A office facility at 2000 K St. is just a few blocks from George Washington University and within close proximity to the White House. Developed in 1986, the building is presently leased to maximum capacity by a variety of occupants including the Appraisal Subcommittee of the Federal Financial Institutions Examination Council, a division of the Federal Reserve Board. The tenant roster is also dotted with associations and corporate law firms, one of which is Bracewell & Giuliani LLP, which is the oldest and largest tenant in the eight-story building with a total of 43,000 sf. Trammell Crow is responsible for leasing up the facility.