Montclif and FCP Acquire Hamilton Square in Downtown Washington, D.C. for $126 Million
Montclif and FCP have acquired Hamilton Square, a nine-story, 278,000-square-foot Class-A mixed-use office asset at 600 14th Street NW in downtown Washington, D.C., for $126 million, the firms announced August 31, 2026. The transaction ranks among the largest commercial office deals in the nation's capital in 2026 and represents Montclif's first joint venture since the firm's launch in April 2026.
The acquisition was financed with an $84.6 million loan provided by Athene Annuity and Life Co., a subsidiary of Apollo Global Management, implying a loan-to-value ratio of approximately 67 percent. The purchase price translates to roughly $453 per square foot based on the joint venture's reported building size.
A Trophy Asset at a Reset Basis
Hamilton Square, located one block east of the U.S. Treasury and the White House, was originally completed in 1929 as a high-end department store and is listed on the National Register of Historic Places. The building was repositioned as Class-A office space and underwent a $17 million renovation in 2020 that added a suite of first-class amenities. The property carries LEED Gold certification and an Energy Star score of 76.
The building features Art Deco architecture, loft ceiling heights reaching nearly 16 feet on certain floors, a 12,500-square-foot rooftop terrace and conference facility, an expansive fitness center and bike room, and a trophy-quality lobby. The property is fully leased at acquisition.
"Hamilton Square is precisely the asset we started Montclif to own," said Erik Weinberg, Co-Founder of Montclif. "It is a fully leased building with great tenancy, institutionally maintained and located in one of the most established and sought-after locations in Washington, D.C. Acquiring the asset at a reset basis with a fresh capital stack will allow us to continue to maintain the building's status as a top-tier asset."
The joint venture plans to make select operational and capital enhancements building on the 2020 renovation program.
Tenant Roster Anchored by Fortune 100 Firms and Convene
Hamilton Square's office tenancy includes Fortune 100 companies GE and IBM, as well as Convene's flagship Washington, D.C. location. Convene expanded its footprint at the building to approximately 80,000 square feet in the first quarter of 2026, offering roughly 23,000 square feet of meeting space across six meeting rooms with capacity for up to 315 people standing. The Convene space serves as a hub for tech, artificial intelligence, and professional services firms.
Ground-floor retail is anchored by The Hamilton restaurant and music venue, described as a top-ten-grossing restaurant in Washington, D.C., alongside the recently opened Giordano's.
"Hamilton Square reflects FCP's highly selective approach to our commercial office strategy," said FCP Partner Jason Ward. "This well-positioned, institutional-quality landmark property in our home market creates a unique value-add opportunity in partnership with commercial office specialist, Montclif."
Eastdil Secured Savills Advised Both Sides; Stream to Manage
Eastdil Secured Savills represented the seller in the transaction. Tim McDonald and Collins Ege of Eastdil Secured Savills led the investment sales advisory. Nick Seidenberg and Axel Azcue, also of Eastdil Secured Savills, sourced the acquisition financing from Apollo Global Management affiliates.
Stream's Kyle Luby, John Klinke, and Joe Reilly have been engaged to handle leasing and property management on behalf of the joint venture.
About the Firms
Montclif is a commercial real estate investment firm based in Chevy Chase, Maryland, focused on acquiring income-producing office and mixed-use properties in major East Coast and Sun Belt markets. The firm was founded by Erik Weinberg and Jackson Prentice and pursues value-add and opportunistic returns through discounted purchases of institutional-quality assets.
FCP, a subsidiary of Federated Hermes, Inc., is a privately held real estate investment company that has invested in or financed more than $14.8 billion in gross asset value since its founding in 1999. Based in Chevy Chase, Maryland, FCP invests in commercial and residential assets through commingled funds and separate accounts targeting major U.S. real estate markets.
Sources
FCP — Montclif, FCP Acquire Hamilton Square in Downtown Washington, D.C. for $126.0 Million