WASHINGTON, DC—Finance details about MRP Realty's and Uber Offices' acquisition of 1509 16th St., NW, have emerged. HFF placed a $14.5 million loan for the 32,000-square foot building with First National Bank. Proceeds from the 10-year, fixed-rate loan will be used for the acquisition and the renovation and lease up costs.
Dan McIntyre lead the HFF debt placement team representing the borrower.
Last week we reported that MRP and Uber Offices partnered to buy 1509 16th St NW, for $14.5 million. Doug Damron, senior managing director of Newmark Grubb Knight Frank, represented the seller Family Matters of Greater Washington in the transaction.
Uber Offices will occupy the entire building, offering shared office spac. The building was originally built in 1909 and is slated to be fully renovated by early 2016.
HFF was unable to return a call to GlobeSt.com in time for publication.
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