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Washington, D.C. Commercial Real Estate

People's Building Refi

You probably know it better as the People's Building, but 64 New York Ave--that tan and glass structure at the corner of New York and First--has just received some new debt. Owner Brookfield Real Estate Opportunity Fund I secured a new $95.5M first mortgage for the property from Mesa West Capital. Raphael Fishbach, a principal with Mesa West, told us this morning that despite the property's 50% occupancy (DC Government is the anchor tenant), there's significant value-add potential there because of its position in the continuously emerging NoMa submarket.

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Related Topics: Mesa West, Mesa West Capital
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