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Cushman & Wakefield secures $58.6M refinancing for The Ellington

The Ellington’s 190 luxury units in Washington, D.C. sit above 16,000 square feet of retail space that is 93% leased, according to the deal details.

Reported · Written up by our desk · Residential

Cushman & Wakefield arranged a $58.6 million refinancing for The Ellington, a 190-unit luxury multifamily property at 1301 U Street NW in Washington, D.C., ConnectCRE reported.

The transaction includes more than 16,000 square feet of retail space, which is 93% leased to tenants including Street Markets, Roaming Rooster, 354 Restaurant and Eatopia Eatery.

Cushman & Wakefield’s Equity, Debt & Structured Finance team, led by John Alascio, represented the borrower, an affiliate of Jamestown L.P., in securing financing from New York Life Investors.

ConnectCRE also noted that Jamestown has invested more than $10.7 million in capital improvements since acquiring the property in 2018.

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