A Washington, D.C. developer has secured fresh capital to continue the revitalisation of a formerly struggling office building just across the Potomac River. Jemal Equities, led by managing principal Matthew Jemal, has received a $28m Commercial Mortgage-Backed Securities (CMBS) loan. This serves to refinance the ten-storey office property at 1530 Wilson Boulevard in Arlington, Va., Commercial Observer has learned.
Citigroup provided the loan for the approximately 174,000-square-foot building in Arlington's Rosslyn neighbourhood. Jemal Equities acquired the property in October 2025 for $28m from Velocis. At the time of acquisition, the property was 61 per cent leased. The building, constructed in 1990, is now 89 per cent leased, with a weighted average lease term (WALT) of 6.8 years, compared to 2.8 years at the time of purchase. Meridian Capital Group, which arranged the loan, confirmed these details. Cary Pollack and Judah Neuman from Meridian negotiated the debt financing.
Successful Repositioning of the Property
Cary Pollack stated that Matthew Jemal has earned a reputation for successfully repositioning buildings, and 1530 Wilson is the latest example of this. Jemal Equities' achievement, realised in less than a year, is the result of perseverance, hard work, and determination. Citigroup recognised the strength of this execution, thereby securing financing that reflects the building's current state and future development.
Jemal's acquisition for $28m represented a 61 per cent decrease from the $71.4m Velocis paid for the building in April 2020. Recent modernisations include a renovated lobby, an outdoor terrace, and a fitness centre with changing rooms. A 50-person conference centre is currently under development. Anchor tenants at 1530 Wilson include Lincoln Property Company, Blue Origin, and SAS Institute.
Both Citigroup and Jemal Equities have not yet responded to requests for comment.
