Sumitomo Mitsui Trust, for instance, recently refinanced the Homer Building, owned by a JV between Mitsui Fudosan America and Akridge.

Another recent refi was by the South Korean bank holding company Hana Financial Group for the Millennium Partners' Ritz-Carlton.

Also Natixis, an arm of the French conglomerate Groupe BPCE, has refinanced a number of loans on local properties. Most recently, it provided Douglas Development a $26.5 million floating-rate loan collateralized by the 71,748 square foot Shops of Wisconsin Ave. shopping center.

GIC, though, is the global player that seems to be particularly hot right now. Just ask Fred Seigel, president of Beacon Capital Partners. GIC recapped Lafayette Centre after Beacon Capital stabilized it and the Pentagon Center after several capital improvements were made.

As for the third building, Terrell Place, “we see significant additional opportunity and are excited to have GIC join us as we create more value,” he said when announcing the transaction.

WASHINGTON, DC–To many people, foreign investors and commercial real estate usually means the former buying the latter. And of course, that is often how it plays out — usually, but not always, with trophy assets or properties in gateway cities.

It is easy to forget, therefore, that foreign investors are also active in providing financing for US commercial assets. Yesterday's announcement that GIC was recapitalizing two Beacon Capital Partners' buildings in DC and investing with it in a third highlighted that role in no uncertain terms.

GIC is among the handful of foreign-based entities, such as pension funds, that have a very high profile in the US. It recently formed a JV with Paramount to acquired 60 Wall St. in New York City for $1.04 billion, or approximately $640 per square foot. Nor does GIC limit itself to offices in gateway cities: Last year it participated in the $2 billion recapitalization of Yes! Communities LLC.

But other foreign investors and lenders are active and it is these players that can be overlooked.

Sumitomo Mitsui Trust, for instance, recently refinanced the Homer Building, owned by a JV between Mitsui Fudosan America and Akridge.

Another recent refi was by the South Korean bank holding company Hana Financial Group for the Millennium Partners' Ritz-Carlton.

Also Natixis, an arm of the French conglomerate Groupe BPCE, has refinanced a number of loans on local properties. Most recently, it provided Douglas Development a $26.5 million floating-rate loan collateralized by the 71,748 square foot Shops of Wisconsin Ave. shopping center.

GIC, though, is the global player that seems to be particularly hot right now. Just ask Fred Seigel, president of Beacon Capital Partners. GIC recapped Lafayette Centre after Beacon Capital stabilized it and the Pentagon Center after several capital improvements were made.

As for the third building, Terrell Place, “we see significant additional opportunity and are excited to have GIC join us as we create more value,” he said when announcing the transaction.