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Douglas Development Secures Office Redevelopment Loan

WASHINGTON, DC-CBRE helped Douglas Development arrange a $21.3-million construction loan to redevelop the Wonder Bread Building.

By Erika Morphy | Updated on November 19, 2012

WASHINGTON, DC-Office redevelopment and construction loans are still rare enough that most transactions are enough to turn heads—without the building in question being a historic landmark. Douglas Development’s recent $21.3-million reconstruction loan falls into both categories.

A domestic bank provided the company with a seven-year construction-permanent loan to redevelop the Wonder Bread Building at 641 S St., NW. CBRE Capital Markets helped to secure the funds. The building was formerly a distribution warehouse for Hostess, which recently announced it would cease making such iconic junk foods as Twinkies and Ding Dongs.

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