Newmark Secures $64 Million in Financing for Luxury Residential Conversion in Washington, D.C.

February 4, 2026 9:00 AM

Newmark announces the Company has arranged $64 million in permanent financing for Elle, a newly reimagined high-rise residential development located in Washington, D.C.’s Golden Triangle. Newmark Vice Chairman Brian Kochan, Director John Chobanian and Associate Ned Engelbride represented property owner Willco in the transaction.

Elle represents one of the District’s most prominent office-to-residential conversions to date. Formerly the Peace Corps headquarters, the 11-story property has been transformed into a Class A residential community offering 163 modern apartment units and more than 8,000 square feet of ground-floor retail. The project is positioned at the crossroads of the West End, Dupont Circle and Georgetown, offering residents immediate access to premier restaurants, retail and entertainment, with walkability to four WMATA stations.

“As Washington, D.C. adapts to evolving workplace trends, office-to-residential conversions are reshaping the downtown core,” said Kochan. “Elle is emblematic of how the capital’s legacy office inventory can be repositioned into high-quality housing that adds vitality and long-term value to the urban environment.”

Residents at Elle enjoy a full suite of lifestyle amenities, including a rooftop pool and dog park, coworking pods, a 24-hour fitness center and a pet spa. The ground-floor retail space is anchored by Moxies, a nationally acclaimed upscale-casual dining concept.

The successful repositioning of Elle aligns with Washington, D.C.’s broader adaptive reuse efforts, including the “Housing in Downtown” and “Office to Anything” initiatives, which aim to increase residential density and revitalize the city’s core. With strong sponsorship and financing support, Elle underscores the potential of adaptive reuse to address housing needs and reinvigorate underutilized assets across the District.

About Newmark
Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries (“Newmark”), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. Newmark’s comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, and startups to blue-chip companies. Combining the platform’s global reach with market intelligence in both established and emerging property markets, Newmark provides superior service to clients across the industry spectrum. For the twelve months ended September 30, 2025, Newmark generated revenues of over $3.1 billion. As of September 30, 2025, Newmark and its business partners together operated from approximately 170 offices with over 8,500 professionals across four continents. To learn more, visit nmrk.com or follow @newmark.

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