WASHINGTON, DC-A life company has provided a $95 million refinance loan for Clarion Partners’ McPherson Building, located at 901 15th St., NW. The non-recourse loan was secured by Cassidy Turley senior managing directors John Campanella and David Webb.
“This was a straightforward transaction for both lender and borrower,” Campanella tells GlobeSt.com. “The building had been through a renovation and has since leased up. We refinanced out of a floating rate, construction loan into a fixed loan at an excellent price.” Campanella declined to elaborate on the pricing. The $25.1 million renovation on the 12-story, 253,030-square-foot building included a new exterior fa
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
