Real Estate
Home›Real Estate›Commercial›Assembly Real Estate gains ownership of 306K SF D.C. o…
Assembly Real Estate gains ownership of 306K SF D.C. office
The new owners took control by buying a $140M note for $79.5M and securing a $54.2M acquisition loan from Citi Real Estate Funding.
Affinius Capital has transferred control of a 306,000-square-foot Washington, D.C. office building after the property’s mortgage was sold, according to Bisnow.
The building at 700 Sixth St. NW, just north of Capital One Arena, was taken over by Assembly Real Estate, in partnership with London-based FitzWalter Capital Partners.
Bisnow reports the partnership bought a $140M note from Principal Real Estate Investors for $79.5M and also took out a $54.2M loan from Citi Real Estate Funding Inc. for the acquisition.
The outlet added that the fixed loan tied to the property carried a 3.7% interest rate and was described as maturing in June, while deed records cited by Bisnow show Principal provided a $140M refinance in 2019.