One Street Commercial Properties Secures $58.4M Loan For Office Conversion In Washington D.C

The asset involved in the transaction is an office building located at 3333 K Street Northwest in Vancouver, WA. The total square footage of the property is 70,000. One Street Commercial Properties is the landlord of the property, which has secured a loan amount of $58,400,000.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $58,400,000
• Address: 3333 K Street Northwest
• Market: Vancouver, WA
• Lender: OakNorth, Hickory CRE Lending, DC Green Bank & PACE Equity Finance
• Landlord: One Street Commercial Properties

The financing secured by One Street Commercial Properties is aimed at converting the former office building into 22 luxury condominiums alongside ground-floor retail space. The lenders involved include OakNorth and Hickory CRE Lending, providing a total of $37.8 million, while DC Green Bank and PACE Equity Finance have contributed $20.6 million in C-PACE financing for the project. Completion of the conversion is expected by late 2027.