MERRIFIELD, VA-Equus Capital Partners has secured $36.5 million in interim financing that will be used to help stabilize 8111 Gatehouse Rd., which is about 60% occupied. Once the property begins to lease up, the company will think about securing a permanent refinance loan, Cassidy Turley's Phil Mudd tells GlobeSt.com. Mudd and Brad Geiger arranged the financing, which was provided by a commercial bank.
The 274,812 square foot building has solid features and a strong sponsorship, Mudd says. It also has some good credit tenants including Accenture and GSA. The financing was relatively easy to secure, Mudd says. "There is a strong appetite for interim loans here, especially for buildings of this caliber."
The six-story building was built in 1973 and renovated in 2010.
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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.
