950 L'Enfant Plaza
WASHINGTON, DC—Normandy Real Estate Partners has put 950 L'Enfant Plaza on the market. HFF is marketing the iconic, albeit Class B property that was designed by I.M. Pei as part of the broader 2.5-million-square-foot L'Enfant Plaza mixed-use complex.
Normandy acquired the note from the CMBS trust for $80.4 million and was the winning bid at its subsequent foreclosure auction in June 2018. Normandy took title to the property via foreclosure thereafter at a total cost of $84 million, including closing costs and fees.
The 315,723-square foot building is currently 86% leased to four GSA tenants with a weighted average remaining term of 5.2 years.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
