From The Real Deal · TRD Staff · · 40s
Distressed DC Office Sells Below Debt
DC office sells for $79.5m below $140m debt.
In brief
DC office sells for $79.5m below $140m debt. Assembly Real Estate and FitzWalter Capital bought a distressed DC office building for $79.5 million, far less than the $140 million debt it was backed by. Originally reported by The Real Deal.
Distressed DC Office Sells Below Debt
Assembly Real Estate and FitzWalter Capital bought a distressed DC office building for $79.5 million, far less than the $140 million debt it was backed by.
Property Sold via Foreclosure
An affiliate of Affinius Capital sold the property through a deed in lieu of foreclosure.
Recent Distress in DC Market
The sale follows other distressed DC office sales, including WC Smith's $43 million short sale of its headquarters.
The takeaway
Assembly Real Estate and FitzWalter Capital bought a distressed DC office building for $79.5 million, far less than the $140 million debt it was backed by.
