- Mesirow led the $275 million financing of NASA’s Washington, D.C. headquarters
- 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
CHICAGO, August 15, 2022 – 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 was 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.
About Mesirow CTL and Structured Debt Products
Mesirow Credit Tenant Lease (CTL) and Structured Debt Products offers clients seeking high leverage, credit-backed financing a unique suite of services and access to the institutional debt capital markets. Mesirow is able to support transactions and deliver certainty of execution when necessary through access to the firm’s balance sheet. To learn more, visit mesirow.com/ctlandstructureddebt.
Mesirow is an independent, employee-owned financial services firm founded in 1937. Headquartered in Chicago, with offices around the world, we serve clients through a personal, custom approach to reaching financial goals and acting as a force for social good. With capabilities spanning Global Investment Management, Capital Markets & Investment Banking, and Advisory Services, we invest in what matters: our clients, our communities, and our culture. To learn more, visit mesirow.com and follow us on LinkedIn.
Mesirow was recently named one of the Best Places to Work in Chicago by Crain’s Chicago Business and one of the Top Workplaces by the Chicago Tribune.