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WASHINGTON, DC-Jones Lang LaSalle is marketing for sale the long-term ground lease on 1150 18th St., NW in Washington, DC’s CBD. The borrower is in default on the first mortgage loan and has entered into a standstill agreement with the lender and deposited into escrow a deed in lieu of foreclosure.

This means, essentially, that the purchaser of the first mortgage loan will acquire the fee simple title to the land parcel with little additional paperwork. JLL’s John Kevill and Collins Ege are handling the transaction, with financing assistance from Real Estate Investment Banking executive vice president Ben Singer.

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