300 E St. SW
Update
08/15/22
Mesirow Leads $275 million financing of NASA's Washington, D.C. Headquarters
- Mesirow led the $275 million financing of NASA's Washington, D.C. headquarters
- The property is owned by a partnership between Ocean West Capital Partners and Hana Alternative Asset Management
- Through this financing, the partnership recapitalized its equity interest in the property and effectively monetized what is currently the 6th largest GSA lease in the country
Mesirow, an independent, employee-owned financial services firm, announced it recently led the $275 million financing of NASA's Washington, D.C. headquarters at 300 E. Street SW. The property is owned by Hana Alternative Asset Management and managed by Ocean West Capital Partners. Proceeds from the financing provided the partnership with attractive fixed-rate pricing on debt to be repaid on an interest-only basis until the loan's 2028 maturity date (coterminous with NASA's lease). Through this financing, the partnership recapitalized its equity interest in the property and effectively monetized what is currently the 6th largest GSA lease in the country.
"We evaluated a variety of financing alternatives for this asset, and the approach and creativity offered by Mesirow were unique and far superior to other options. In a tough market, Mesirow delivered on their initial guidance," said Russ Allegrette, CEO of Ocean West Capital Partners.
"Executing in today's debt markets presents a degree of challenge that we are proud to have met through close partnership and collaboration across several unique facets of the Mesirow franchise, including our muni desk and the more traditional CRE fixed income sales and trading channels," said Nat Sager, President of Mesirow Capital Markets. "We are extremely pleased by the end result and the satisfaction it provided to the client and our institutional fixed income investors."
Mesirow served as Placement Agent and Administrative Agent on the financing. Cushman and Wakefield also served as advisor to the borrower in shaping the loan request and brokering the ultimate engagement with Mesirow.
