Updated May 26, 2025
High Street Residential & MetLife Investment Management Secures $186M Refinance From Artemis Real Estate Partners
1200 3rd Street Northeast
$186,000,000
Units
640
Asset Type
MultiFamily
Closing
May 22, 2025
About this deal
AI
The transaction involves a multifamily asset located at 1200 3rd Street Northeast in Washington, DC. This property features a total of 640 residential units and has a refinancing loan secured for $186,000,000. The sizeable loan represents a significant financial arrangement aimed at enhancing the property's financial structure.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $186,000,000
- Loan Type: Refinance
- Lender: Deborah Harmon - Artemis Real Estate Partners
- Landlord: High Street Residential & MetLife Investment Management
High Street Residential, an affiliate of Trammell Crow Company, along with MetLife Investment Management, is noted for securing this refinancing deal through Artemis Real Estate Partners. This collaboration highlights the involved parties' strategic financial planning aimed at the Central Armature Works project.
Players
Washington MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.09%
Cash-on-Cash
-0.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93