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1401 H Street Northwest

Updated May 12, 2025

Evan Cohen Purchases Office Building From TIAA At 1401 H Street NW For $118M
SOLDOffice

Evan Cohen Purchases Office Building From TIAA At 1401 H Street NW For $118M

1401 H Street Northwest

$118,000,000

Building Size

—

Asset Type

Office

Closing

Mar 25, 2025

About this deal

AI

The property asset involved in this transaction is a 12-story office building located at 1401 H Street Northwest in the Washington, DC market. The sale was finalized for $118,000,000, a significantly reduced price compared to TIAA's previous purchases, which included $205,000,000 in 2006 and a purchase price of $133,000,000 in 1998.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: $118,000,000
  • Buyer: Evan Cohen
  • Seller: TIAA
  • Market: Washington, DC

The key players in the transaction include TIAA, represented by its subsidiary Nuveen, which sold the office building to Tourmaline Capital Partners. This sale reflects a notable decline in the property’s market value over the years since its initial purchases by TIAA.

On the Map

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$118,000,000

Office

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Players

Tourmaline Capital Partners
Tourmaline Capital PartnersBuyer
TIAA
TIAASeller

Washington Office Market Snapshot

Boundary boundary · Office · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.13%

Cash-on-Cash

-0.04%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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