Cushman & Wakefield Arranges $56.6 Million Refinance For Multifamily Property In Washington DC

The Ellington is a multifamily property located at 1301 U Street Northwest in Washington, DC, consisting of 190 units and encompassing over 16,000 square feet of retail space, which is currently 93% leased. A refinancing loan amount of $56.6 million was secured through New York Life Investors.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $56,600,000
• Lender: New York Life Investors
• Landlord: Jamestown LP
• Address: 1301 U Street Northwest, Washington, DC
• Units: 190
• Broker Representatives: John Alascio, Alexander Hernandez, Marshall Scallan, Will Wohlgemuth & Meredith Crawford - Cushman & Wakefield
• Loan Type: Refinance

Cushman & Wakefield arranged the refinancing, representing an affiliate of Jamestown LP. Since acquiring the property in 2018, Jamestown has invested over $10.7 million in renovations to enhance the asset.