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Natixis Lends 52 Million for 1000 F Street NW, Washington DC
Natixis originated a $52.8 million floating rate loan to Douglas Development Corporation for the refinancing and lease-up of 1000 F Street NW, located in the East End submarket of Washington, DC. The newly constructed office building contains 93,465 SF of space, inclusive of 7,282 SF of ground floor retail with two levels of below grade parking. The loan was used to refinance an existing construction loan and provide capital for tenant improvement costs to continue leasing the building.
1000 F Street incorporates a two-story designated historic structure, whose facades were restored and whose interior was completely renovated and integrated with the contemporary building. In addition, the building has been awarded LEED Gold certification, a prestigious and internationally recognized standard for sustainable construction. The building is approximately 30% occupied and is centrally located among DC’s demand generators, such as federal and local government agencies and supporting businesses in the Federal Triangle, Judiciary Square, US Capital, and the White House.
Douglas Development Corporation is a commercial real estate developer based in Washington, DC. Since inception in 1985, the firm has grown into a fully integrated real estate developer with a portfolio of over 300 properties totaling in excess of 10.0 million leasable square feet. Douglas Development Corporation and its principals are nationally recognized as a leader in redevelopment of historical properties, especially within the District of Columbia.
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About Natixis
Natixis is a French multinational financial services firm specialized in asset & wealth management, corporate & investment banking, insurance and payments. A subsidiary of Groupe BPCE, the second-largest banking group in France through its two retail banking networks, Banque Populaire and Caisse d’Epargne, Natixis counts nearly 16,000 employees across 38 countries. Its clients include corporations, financial institutions, sovereign and supranational organizations, as well as the customers of Groupe BPCE’s networks. Listed on the Paris stock exchange, Natixis has a solid financial base with a CET1 capital under Basel 3(1) of €11.1 billion, a Basel 3 CET1 Ratio(1) of 11.5% and quality long-term ratings (Standard & Poor’s: A+ / Moody’s: A1 / Fitch Ratings: A+).
(1) Based on CRR-CRD4 rules as reported on June 26, 2013, including the Danish compromise - without phase-in. See note on methodology in the 2Q19 earnings material.
Figures as at 30 June 2019