WASHINGTON DC – Hoffman-Madison has secured an $847 million construction loan for the second phase of its waterfront development, The Wharf., from Goldman Sachs. The transaction is the largest private construction loan in the history of the District of Columbia. The Pillsbury real estate team is advising Hoffman-Madison Waterfront LLC and its affiliates on the $2.5 billion, mile-long, mixed-use development on the city's southwest waterfront. Phase two of the District Wharf consists of 1.15 million square feet of mixed-use spaces. The development's second phase will include a marina, 255 apartment units, 96 condos, 131 hotel rooms, 547,000 square feet of office space, 95,000 square feet of retail space, a 1.5 acre park and two garages with more than 1,000 parking spaces. Phase two of the development is expected to be completed in 2022. The construction loan marks Pillsbury's second major finance transaction for the Wharf project this year. During the development's first phase, the firm represented Hoffman-Madison Waterfront in the $800 million refinancing, obtained from Wells Fargo and Blackstone in June. The Pillsbury team advising Hoffman-Madison Waterfront consists of partners, David Miller, R.J. Davis, Caroline Harcourt, Brian Blum and Paul Shapses, senior counsel, Russell DaSilva and associates, Jessica Lee, Zachary Bailey, Nicole Desbois, Arielle Murphy and Rebecca Ross.  

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