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WASHINGTON, DC-This past summer LaSalle Investment Management acquired the financially-troubled Senate Square, a luxury apartment house in Downtown DC for $162.3 million, or $375,741 per unit. Backing the purchase – which, despite its distress condition was one of the highest per unit comps to trade in the District – was $78.4 million in senior acquisition financing from Fannie Mae DUS Lender Grandbridge Real Estate Capital. The 4.21%, fixed-rate, seven-year term loan was priced at par. Jones Lang LaSalle’s Dave Hendrickson, Wes Boatwright and Chuck Hoag arranged the financing.


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