SILVER SPRING, MD-A little more than year after its delivery,Washington Property Co. has secured permanentfinancing for its 295-unit luxury apartment building here.ING Investment Management LLC is providing a$75 million, 20-year loan for theSolaire-Metro, which is located at 1150 Ripley St.and is about 95% leased.

Walker & Dunlop and SageCapital represented WPC in the transaction.

The WPC loan reflects a welcome story line in the commercialreal estate industry these days—financing is getting easier.Earlier this month, Chandan Economics reportedthat commercial real estate lending by banks registered a net increase of $18.5 billion during thesecond quarter--the second-largest improvement since the financialcrisis.

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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.