{"id":6424,"date":"2024-11-25T10:51:18","date_gmt":"2024-11-25T10:51:18","guid":{"rendered":"https:\/\/www.foreclosurelistings.com\/news\/?p=6424"},"modified":"2025-06-12T11:55:44","modified_gmt":"2025-06-12T11:55:44","slug":"goldman-sachs-to-foreclose-on-302-million-loan-in-washington-d-c","status":"publish","type":"post","link":"https:\/\/www.foreclosurelistings.com\/news\/foreclosure-market\/goldman-sachs-to-foreclose-on-302-million-loan-in-washington-d-c","title":{"rendered":"Goldman Sachs to foreclose on $302 million loan in Washington, D.C."},"content":{"rendered":"

A major office building of more than half a million square feet in downtown Washington, D.C., is on the verge of a foreclosure auction. The alternate trustee of the $302 million loan, secured by Columbia Property Trust, filed a foreclosure notice and affidavit with the D.C. Recorder of Deeds on Tuesday.<\/span><\/p>\n

The lenders, a consortium including Goldman Sachs, Citi Real Estate Funding, and Deutsche Bank, appointed the alternate trustee last week. The approximately 580,000-square-foot property is scheduled for a foreclosure auction on December 20 with Alex Cooper Auctioneers.<\/span><\/p>\n

Columbia Property Trust has not yet given any interviews to discuss the matter. However, according to investigations, the property was acquired in 2017 for $421 million in collaboration with Allianz Real Estate. The building, constructed in 1975, underwent a $33 million renovation in 2016 by its former owner. The loan was initiated in December 2021 with an original balance of $287 million.<\/span><\/p>\n

Due to this situation, the building is about to lose a key tenant, as the law firm Zuckerman Spaeder is vacating its 52,000-square-foot office and moving to a newer office less than half a mile away. Other tenants still remaining in the building include the U.S. Postal Service, The Brattle Group, Wilkinson Barker Knauer, Berkeley Research Group, and Emily’s List, among others.<\/span><\/p>\n

Following the sale of Market Square, located near the National Mall, for $323 million, the 1800 M St building, which is preparing for foreclosure, is one of the two remaining for Columbia Property Trust in Washington, D.C., as it also owns 80 M St. SE in the Navy Yard area.<\/span><\/p>\n

Over the past year, a series of large downtown office buildings have been sold through foreclosure, including 1800 M St. For example, the four buildings that make up the 888,000-square-foot L’Enfant Plaza were sold at auction in October for $83.7 million, less than a quarter of their last appraised value. Another is Brookfield’s 383,000-square-foot property on K Street, which was also sold to the lender at a foreclosure auction for $44 million.<\/span><\/p>\n

Available Foreclosures:\u00a0<\/b><\/p>\n

Washington D.C.: 2 homes available.<\/span><\/p>\n

By El\u00edas DaSilva | November 25, \u00a02024<\/p>\n","protected":false},"excerpt":{"rendered":"

A major office building of more than half a million square feet in downtown Washington, D.C., is on the verge of a foreclosure auction. The alternate trustee of the $302 million loan, secured by Columbia Property Trust, filed a foreclosure notice and affidavit with the D.C. Recorder of Deeds on Tuesday. The lenders, a consortium […]<\/p>\n","protected":false},"author":5,"featured_media":6425,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[1,151,162],"tags":[],"_links":{"self":[{"href":"https:\/\/www.foreclosurelistings.com\/news\/wp-json\/wp\/v2\/posts\/6424"}],"collection":[{"href":"https:\/\/www.foreclosurelistings.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.foreclosurelistings.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.foreclosurelistings.com\/news\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/www.foreclosurelistings.com\/news\/wp-json\/wp\/v2\/comments?post=6424"}],"version-history":[{"count":2,"href":"https:\/\/www.foreclosurelistings.com\/news\/wp-json\/wp\/v2\/posts\/6424\/revisions"}],"predecessor-version":[{"id":6720,"href":"https:\/\/www.foreclosurelistings.com\/news\/wp-json\/wp\/v2\/posts\/6424\/revisions\/6720"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.foreclosurelistings.com\/news\/wp-json\/wp\/v2\/media\/6425"}],"wp:attachment":[{"href":"https:\/\/www.foreclosurelistings.com\/news\/wp-json\/wp\/v2\/media?parent=6424"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.foreclosurelistings.com\/news\/wp-json\/wp\/v2\/categories?post=6424"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.foreclosurelistings.com\/news\/wp-json\/wp\/v2\/tags?post=6424"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}