Taicoon Property Partners acquires downtown D.C. office building from Brookfield for $35.5 million
By Ben Peters – Staff Reporter, Washington Business Journal
Nov 4, 2025
Updated Nov 4, 2025 2:57pm EST
Story Highlights
What’s This?
- Taicoon Property Partners acquires D.C. office building for $35.5 million.
- Taicoon plans $10 million in renovations.
- The building is 60% occupied, primarily by nonprofits and associations.
Taicoon Property Partners LLC continues to gobble up D.C.-area offices at bargain prices, this time a prominent downtown building from a Brookfield affiliate.
The Arlington investor on Friday closed on a $35.5 million deal to acquire the 12-story, 197,000-square-foot office building overlooking Franklin Square at 1400 K St. NW, the company told me. The price works out to roughly $180 a square foot.
Taicoon received a $22.5 million loan from CTBC Bank to aid the purchase, according to the developer. The property’s 2026 assessed value is $74.8 million, according to the Office of Tax and Revenue.
CEO and co-founder Hai Chien Wang said the firm intends to pump an additional $10 million worth of renovations into the property, including a new entrance canopy, a new indoor-outdoor balcony on the sixth floor with views of Franklin Park; an expanded conference and events center on the seventh floor; and a fitness center.
“Divesting this asset aligns with Brookfield’s disciplined capital management strategy,” a Brookfield representative said in a statement. “We previously recapitalized to extract all our equity, distributed sizable proceeds over the course of the hold, and have already earned strong returns from the broader portfolio acquisition.”
Brookfield has been moving to offload D.C.-area properties, including the nine-story, nearly 350,000-square-foot office at 750 Ninth St. NW, otherwise known as the Victor Building. It sold that property in March to a Rockwood Capital affiliate.
The deal marks Taicoon’s latest acquisition in the region. The firm earlier this year acquired the 12-story, 92,000-square-foot building at 818 Connecticut Ave. NW for $16 million. It also snapped up the office building at 1899 L St. NW for $26.65 million in April 2024. Taicoon in 2023 acquired the former national headquarters of the Air & Space Forces Association at 1501 Langston Blvd. in Rosslyn.
Newmark’s Ed Clark and Doug Mueller were appointed as the leasing team for 1400 K, according to Taicoon.
The property, which is about 60% occupied to primarily nonprofits and associations, is home to anchor tenant Federal Labor Relations Authority with a 37,000-square-foot lease that ends in 2026. The building’s second-largest tenant, Center for Climate and Energy Solutions, has 11,000 square feet.
Other tenants include the National Council for Behavioral Health, Arab Center Washington D.C., the National Organization of Social Security Claimants’ Representatives, the United States Council for International Business, The Wildlife Conservation Society and Washington Performing Arts.
Media Contact:
Beth Pyles
PR Manager
Taicoon Property Partners
beth.pyles@taicoonllc.com
http://www.taicoonllc.com
