BETHESDA, MD—The JBG Cos. secured a $103 million refinance loan from SunTrust for its 11-story, 274,526-square foot office at 7200 Wisconsin Ave. HFF arranged the financing on behalf of JBG, placing the four-year term, floating-rate loan with the bank. The loan includes a one-year extension option.
HFF's Sue Carras, Walter Coker, Brian Crivella, Neil Campbell and Nicole Snarski facilitated the transaction.
JGB is using the proceeds from the refinancing to fund tenant and capital improvements and leasing commissions, according to Coker.
It also plans to create additional street-level retail, including a future jewel box concept. Currently the property features a 7,000-square-foot landscaped plaza that serves as the Wisconsin Avenue entrance.
Tenants at the property, which is located close to the Bethesda metro station include Edens, Linowes & Blocher, Singapore Economic Development, University Research, Enviva and StonebridgeCarras.
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