Donato, Zanoff, Williams and Leachman of NGKF finance $82.8 million

NGKF Capital Markets arranged $82.8 million in financing for International Place, which is owned by an affiliate of Beacon Capital Partners, LLC. The property is located at 1735 North Lynn St. in the the Rosslyn submarket. Funded by Morgan Stanley, the loan allowed for the repayment of the existing loan and provides funds to cover future tenant improvements and leasing commissions as the property is leased to stabilization. The loan is floating rate, and has a two-year initial term and three one-year extension options. International Place is a 12-story, 292,799 s/f office building situated at a gateway location within a 24-hour neighborhood. Surrounded by countless retail, cultural and entertainment amenities in both Virginia and Washington, D.C., the property also has an array of onsite amenities including a new fitness center, drop off dry cleaners, multiple quick service restaurants and garage parking. Providing multi-modal means of transportation, International Place is a near Georgetown across the Key Bridge and a one-block walk to the Rosslyn Metrorail Station (Orange, Blue, and Silver Lines). "Historically, Rosslyn has been a top performing submarket in the Washington, D.C. region. However, the lingering market vacancy associated with the DoD's implementation of BRAC (Base Realignment and Closure) and newly delivered spec office space has pushed vacancy levels well above historical averages. While the current vacancy rate can create a difficult financing environment, the long-term government tenancy, recent leasing activity and outstanding amenity base at the property, combined with a top-tier institutional owner, were compelling factors for lenders," said Joe Donato, a vice chairman of NGKF capital markets. The Washington, D.C.-based team of Donato, Maury Zanoff, Matt Williams and Jamie Leachman arranged the financing.