Former FBI building in Washington handed to receiver over $221.6 million debt

The historic Woodies Building stands at 1025 F Street NW in downtown Washington, DC. Image credit: CoStar. A historic building in downtown Washington, DC, that once housed a major FBI office has been handed to a court-appointed receiver after nine months of missed loan payments. The Woodies Building, located at 1025 F Street NW, came under the control of Trigild IVL following a court order issued on September 2, 2026. The property's outstanding loan balance has reached $221.6 million, up from the original $204.1 million borrowed in January 2017. The development follows the FBI's departure from approximately 200,000 square feet of office space. Although the building has secured new leasing deals involving Barnes & Noble, Netflix and Nvidia, the property is facing financial difficulties as its lender seeks to address the unpaid debt.The case followed a lawsuit filed by the lender's trustee, IGIS US Private Placement Real Estate Investment Trust No. 98, an investment trust associated with South Korean real estate manager IGIS Asset Management. According to a complaint filed on August 7, 2026, the borrowers stopped making monthly debt-service payments in December 2025. The lender a...