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WASHINGTON, DC-Connecticut & K Assoc. is closing on $194 million in construction financing for 1000 Connecticut Ave., a 12-story, 383,392-square-foot trophy office building under development in the city’s CBD. Philip Mudd, Christian Miles and Jon Goldstein of Cassidy & Pinkard Colliers arranged the financing, which is being provided by a consortium of five or so institutions led by Chevy Chase Bank.

Earlier this year the building’s owner, a venture led by Edward Kaplan, Albert Small, and Steven and Michael Gewirz, inked a lease to occupy 255,000-square feet–or 66%–of the building, which was designed by Pei Cobb Freed & Partners. It will apply for Gold LEED certification when complete.

Financing deals such as this 54-month loan are becoming increasingly common, Mudd tells GlobeSt.com. “We are definitely seeing more club and syndication type structures.” Still, though, he adds, it never would have moved past the finish line if it didn’t have a strong location and strong sponsorship.

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