Jemal Equities has secured a $27 million Commercial Mortgage-Backed Securities (CMBS) loan for the property at 1750 H Street NW in Washington, D.C., as reported by Commercial Observer. The loan was provided by Citibank and arranged by Meridian Capital Group.
The financing follows Jemal's acquisition of the building in July 2025 for $28.5 million. At the time, the 123,000 square foot office building was almost entirely vacant. However, according to the lender, the property has since experienced significant leasing momentum.
Strategic Refinancing
The current financing round, which was initially acquired with a short-term bridging loan, replaces the original acquisition financing with fixed-rate, long-term debt. Cary Pollack of Meridian, who arranged the financing alongside Judah Neuman, commented on this success.
Pollack explained that Matthew Jemal had clearly outlined his plan from the outset: acquire the largely vacant building, bridge it, lease it out, and then secure long-term financing. This plan was executed within a year. He highlighted that it is rare for a business plan to complete a full cycle so quickly, underscoring the strength of the ownership and the quality of the asset.
Tenant Structure and Location
Citibank did not immediately respond to a request for comment, and Matthew Jemal was unavailable for comment. The tenants of the building in Downtown D.C., which is located near the White House and the World Bank, include prominent organisations and companies, highlighting the attractiveness of the location.
- —World Food Program USA
- —Kids in Need of Defense
- —U.S. General Services Administration
- —Glenmede Trust Company
The strategic location and the successful repositioning of the property by Jemal Equities demonstrate the potential for value creation in underutilised real estate in the heart of political and economic centres. The complete refinancing with long-term debt marks an important milestone in the company's strategy.
