950 L’Enfant Plaza
- 280,000 rentable sf
950 L’Enfant Plaza is a 280,000 sf office building located in SW Washington, DC. The I.M. Pei designed building was built in 1967 and is directly connected to the L’Enfant Metro Station (access to Blue, Orange, Silver, Green, and Yellow Metro Lines). In addition to the unparalleled Metro connectivity, the property is a two minute walk to The Wharf, a $2.0 billion mixed-use waterfront development that delivered in 4Q 2017, and adjacent to the future home of the Spy Museum which opens in 4Q 2018. The free-standing building also benefits from unobstructed views to the south that will be forever protected by Benjamin Banneker Park, a national memorial park, which is located directly south of the property.
Normandy acquired the defaulted loan collateralized by the property in 1Q 2018 on an off-market basis and swiftly foreclosed on the property. Normandy will be leveraging its vertically integrated platform to maximize the value of this iconic property in a submarket that is going through a substantial transformation.