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VIENNA, VA-MetLife Real Estate Investments has placed a$23-million fixed-rate mortgage on 1625 K Street NW, a 108,085-sfbuilding that Shorenstein Properties LLC purchased one month agofrom GE Capital Real Estate. It was the San Francisco firm's fifthmajor acquisition in the Washington, DC area. This transaction wasfor an equity investment fund that the company created 18 monthsago. Brian V. Casey, R. Steven Taylor and Stephen Brill ofMetLife's Washington, DC office led the transaction team.
This deal follows a recent $140.5-million fixed-rate mortgageMetLife placed on 1350 Eye Street NW, a 345,990-sf office building98% leased to 25 tenants. In this deal, the borrower was controlledby an affiliate of Beacon Capital Partners, LLC. The acquisition ofthis property closed on June 6, according to a Beacon CapitalPartners spokesperson, and is now part of Beacon's Fund IV, a$2-billion real estate fund that closed in April.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
