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1812 North Moore Street
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UCC Foreclosure Opportunity
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Arlington, VA
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Eastdil Secured has been retained by a Financial Institution (the "Secured Party") to market at public auction 100% of all limited liability company interests held by 1812 Mezz Borrower, LLC, a Delaware limited liability company (the "Pledgor"), in 1812 Holdings, LLC, a Delaware limited liability company (the "Pledged Entity"; such interests, the "Equity Interests"). The Pledged Entity owns the real property and improvements located at 1812 North Moore Street, Arlington, Virginia (the "Property"), the tallest, and most iconic, office building in the Washington, D.C. area.
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The public auction sale ("Public Sale") will be held on Monday, December 18th, 2023, at 2:30 p.m. Eastern Time, in-person at the offices of Kazowitz Benson Torres LLP, located at 1633 Broadway New York, NY. At that time, all of the right, title and interest of the Pledgor in the limited liability company interests in the Pledged Entity, and the property described in the Pledge and Security Agreement, dated December 18th, 2023, made by Pledgor in favor of Secured Party (the "Pledge Agreement") will be sold to the highest qualified bidder (such limited liability company interests and related rights and property, as more particularly defined and described in the Pledge Agreement, are hereinafter referred to collectively as the "Property").
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Confidentiality Agreement
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PDF
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Property Overview
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Address
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1812 North Moore Street,
Arlington, VA 22209
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Size (SF)
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538,436
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Occupancy
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76%
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WALT
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8.1 Years
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Year Built
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2013
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Typical Floor (SF)
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23,000
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Stories
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35
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Sustainability
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LEED Platinum
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76% leased with over 8 years of weighted average lease term remaining, offering stable in-place income with the ability to capture significant upside associated with leasing the remaining vacancy.
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Blue-chip tenant roster including Nestle (56% of NRA | S&P: AA-), Humana (9% of NRA | S&P: BBB+), and Cerner (9% of NRA) indicative of its ideal positioning in the heart of Rosslyn.
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Free-standing, iconic trophy tower with stunning views of Washington, D.C.’s monument corridor, Georgetown, and Amazon’s HQ2 at National Landing
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Adjacent to Rosslyn Metrorail Station (Orange, Silver, and Blue lines) providing direct access to Downtown D.C. (1 stop), the Pentagon (2 stops), Amazon HQ2 (3 stops), Ronald Reagan National Airport (4 stops), and Virginia Tech’s Innovation Campus (6 stops)
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Transformed into a mixed-use district, Rosslyn encompasses 6,000+ residential units and 100+ restaurants and retailers providing tenants a range of living and entertainment options within blocks
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Ownership has invested significant capital to build out the 17th Floor as spec suites with an activated common area for tenants. The floor was 62% preleased upon delivery in September 2023 and has garnered significant interest on the balance of the space.
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Notice of the auction will be advertised in various publications prior to the date of the auction. The Property will be offered for sale pursuant to certain Terms of Sale, which may be obtained from Eastdil Secured via the email address below. The information contained in this teaser, including all information related to the Pledgor, the Pledged Entity, and the Property, is based on information previously provided to Secured Party by the Pledgor, the Pledged Entity and their affiliates and other third parties and such information has not been independently verified. To the extent the contents hereof contain summaries of the terms of any legal documents, reference is made hereby to the actual documents for accurate and complete information concerning the rights and obligations of the parties thereto, and all such summaries are qualified in their entirety by this reference. No representation or warranty, express or implied, is made as to the accuracy or completeness of this information and each prospective bidder is encouraged to conduct its own independent analysis of the information relating to the Property including the pre-existing liabilities of the Pledgor, the Pledged Entity and the Property. We do not undertake any duty to update or correct information contained in this teaser. Investors must rely exclusively on their own advisors for legal, tax, financial and similar advice in respect of their investment decision and not statements by Eastdil Secured or Secured Party. The Information contained in this teaser does not constitute an offer to sell securities and the limited liability company interests to be sold at auction have not been registered under the Securities Act of 1933, as amended, or registered or qualified under any applicable state securities laws. Secured Party possesses additional material information regarding the subject matter hereof that has not been disclosed herein. The contents hereof have been prepared solely with respect to Secured Party's interests as secured party under the Pledge Agreement and are not intended to and do not constitute an offering of any real estate or any direct interest in real estate.
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Should you have an interest in reviewing the Confidential Offering Materials, please execute the Confidentiality Agreement and return it to
edowning@eastdilsecured.com.
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2000 K Street, NW
Suite 300
Washington, DC 20006
(202) 688-4000
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DISCLAIMER |
OPT OUT
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This message may contain confidential and/or privileged information and is for the named person's use only. If you are not the intended recipient or have received this communication in error, please notify the sender immediately and discard all copies. If you would prefer not to receive further communications, please contact us by calling 888-732-2278, or send a fax with your name, address and email address to (310) 526-9085 Attn: "Opt Out", or e-mail your name, address and email address to us at optout@eastdilsecured.com with a subject line "Opt Out".
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