Updated Sep 8, 2026
Stonebridge, Bernstein Companies And Criterion Real Estate Capital Secure $175.6 Million Loan For 1990 K Street NW
1990 K Street Northwest
$175,600,000
$426/SF
Building Size
412,000 SF
Asset Type
Development Site
Closing
Sep 3, 2026
About this deal
AI
The asset involved in this context is a development site located at 1990 K Street Northwest, Washington, DC. This site spans 412,000 square feet and is undergoing a significant redevelopment project valued at $250 million, for which a construction loan of $175.6 million has been secured.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $175,600,000
- Lender: Kennedy Wilson Capital, U.S. Fire Insurance, North River Insurance, Odyssey Reinsurance & Allied World Assurance
- Landlord: Navin Dimond - Stonebridge, Adam K. Bernstein - The Bernstein Companies & Criterion Real Estate Capital
- Broker: Cushman & Wakefield
The deal features notable participation from Navin Dimond representing Stonebridge, along with Adam K. Bernstein from The Bernstein Companies and representatives from Criterion Real Estate Capital, who collectively secured a new majority partner for this redevelopment project.
Players
Washington Development Site Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.09%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93