[[{“value”:”
**Newmark Secures $64M in Financing for DC Residential Conversion**
Newmark has successfully arranged $64 million in permanent financing for Elle, a newly reimagined high-rise residential development located in Washington, D.C.’s Golden Triangle.
The financing transaction was led by Newmark Vice Chairman Brian Kochan, Director John Chobanian, and Associate Ned Engelbride, who represented property owner Willco. Formerly the Peace Corps headquarters, the 11-story building has undergone a significant transformation and now features 163 modern apartment units along with more than 8,000 square feet of ground-floor retail space.
Positioned at the intersection of the West End, Dupont Circle, and Georgetown, Elle offers residents convenient access to some of the city’s top dining, retail, and entertainment destinations. The building is also within walking distance of four WMATA Metro stations, further enhancing its appeal. The ground-floor retail portion of the property is anchored by Moxies, an upscale-casual dining concept.
“As Washington, D.C. adapts to evolving workplace trends, office-to-residential conversions are reshaping the downtown core,” Kochan stated. “Elle is emblematic of how the capital’s legacy office inventory can be repositioned into high-quality housing that adds vitality and long-term value to the urban environment.”
Photo Credit: Willco
—
Nominate Commercial Real Estate’s Leading Investment Sales and Leasing Brokers
For the ninth year in a row, Connect CRE will spotlight the industry’s top brokers based on the past year’s achievements. Submit your nominations today.
Originally published on Connect CRE.
“}]]
