Newmark Secures $64M in Financing for DC Residential Conversion
Newmark has arranged $64 million in permanent financing for Elle, a newly reimagined high-rise residential development located in Washington, D.C.’s Golden Triangle.
Newmark Vice Chairman Brian Kochan, Director John Chobanian and Associate Ned Engelbride represented property owner Willco in the transaction. Formerly the Peace Corps headquarters, the 11-story property has been transformed into a residential community offering 163 modern apartment units and more than 8,000 square feet of ground-floor retail.
The project is positioned at the crossroads of the West End, Dupont Circle and Georgetown, offering residents immediate access to premier restaurants, retail and entertainment, with walkability to four WMATA stations. The ground-floor retail space 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,” said Kochan. “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.”
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Photo credit: Willco
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
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Essex Property Trust, Inc.
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout