WASHINGTON, DC—MRP Residential, a division ofMRP Realty and Florida Rock Properties, have nowclosed on a total of $82 million of constructionfinancing for their Capitol Riverfront mixed-use project.

Last month GlobeSt.com reported that they had secureda $65 million construction loan from First Niagara's CommercialReal Estate Group for the project, which is expectedto deliver in September 2016.

Additional details have emerged, namely that an additional $17million is being contributed in preferred equity via a jointventure with EB5 Capital.

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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.