IAM National Pension Fund Leases 44286 Square Feet At 99 M St SE Washington DC From Skanska
99 M St SE, Washington, DC, 20003
Building Size
44,286 SF
Asset Type
—
Closing
Nov 20, 2023
AI
The property involved in this transaction is located at 99 M St SE, Washington, DC, 20003. It has a total area of 44,286 square feet and is situated in the Washington market. The landlord for this lease transaction is Skanska.
Summary of transaction details:
- Property Type: Lease
- Transaction Amount: Not disclosed
- Square Feet: 44286
- Tenant: IAM National Pension Fund
- Tenant's Representative: Manny Fitzgerald, CBRE
- Landlord: Skanska
This transaction highlights the involvement of key representatives in the deal. Manny Fitzgerald of CBRE represented the tenant, IAM National Pension Fund, illustrating the role of brokerage firms in facilitating lease agreements.
Players
Washington CRE Market Snapshot
Boundary boundary · CRE · Lease transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93