Berkadia has arranged the sale and financing of WestEnd25, a 283-unit multifamily asset in Washington D.C.’s West End neighborhood.
Senior Managing Director Brian Crivella and Managing Directors Bill Gribbin and Yalda Ghamarian of Berkadia DC Metro completed the sale on behalf of JBG Smith. JRK Property Holdings acquired the property for $186 million. Berkadia also secured acquisition financing on behalf of the buyer.
“WestEnd25 is an exemplary high-rise asset situated in one of D.C.’s most prestigious, supply constrained, and high barrier to entry neighborhoods, combined with the elite amenity set and property’s unique unit mix – including 21 penthouses units and 35 park view units – can’t be found anywhere else in D.C.,” said Gribbin.
WestEnd25 is a 10-story property located at 1255 25th Street NW featuring a mix of one-, two-and three-bedroom layouts. The property is situated at the nexus of Georgetown, Dupont Circle and the Central Business District.
Multifamily owners with loans coming due are faced with higher refinancing costs. While this isn’t news, Newmark put numbers to the issue, indicating that loans maturing in Q3 2026 carried an average interest rate of 4.04%, compared to 5.69% on new loans at an average cap rate of 5.5%, resulting in negative leverage. At the...
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An increase in mortgage rates is cooling home sales, with multifamily the biggest beneficiary, according to John Chang, senior vice president at Marcus & Millichap. In a recent video, Chang said that the 10-year Treasury has risen by more than 100 basis points, and the 30-year mortgage rate is up about 130 bps to the...
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The city of Revere is eying a large redevelopment plan that would create 1,700 new affordable and market-rate homes about five miles northeast of downtown Boston. The Revere Housing Authority presented a proposal to the Revere City Council last week requesting a zoning change that would allow for development on a 40-acre site at Cooledge...
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