09.02.03::800 North Capitol Street Acquired for $103M

Cambridge Property Group successfully structured the acquisition of the leasehold interest in 800 North Capitol Street in the Capitol Hill submarket of Washington, DC. The property consists of a ten-story office building containing 302,892 square feet of office and retail space, one level of below grade office space, and a three-level underground parking garage containing 231 spaces. The project was purchased by WEH Capitol LLC, Galaxy 800 N. Capitol Owners, L.P., and MDH Capitol LLC, as Tenants in Common, for a total consideration of $103,000,000 from NGP Holdings III LLC, which was represented by Cassidy and Pinkard. A first Deed of Trust was secured from NY Life and was arranged through Legg Mason.