Multifamily Conversion Secures Record Financing in D.C.

Post Brothers has assembled roughly $562M in financing to advance The Geneva, an office-to-residential conversion of two mid-century buildings on Connecticut Avenue NW near Dupont Circle. The planned redevelopment is positioned as the city’s largest office-to-multifamily conversion and is expected to deliver approximately 525 apartments. CRE Daily+1

A key component of the capital stack is a $465.3M C-PACE loan provided by Nuveen Green Capital, described as a record-sized transaction for this financing structure. Additional funding includes a $96.65M piece from Mavik Capital Management (reported as a refinancing of prior debt). The project has also benefited from local policy support tied to D.C.’s office-to-residential push, and the developer has an extension window into March 2027 to file permit plans.

Source: CRE Daily, January 6, 2026

By Nina Dale