CHEVY CHASE, MD--A commercial bank has provided a $107.6 million loan secured by Chase Tower. Cushman & Wakefield's John Campanella arranged the financing on behalf of WealthCap, a German asset manager, and The JBG Cos. A commercial bank provided the loan.
Chase Tower is a 245,835 square foot mixed-use project with a 12-story office building, a two-story retail building and a community park. It is one block from the Friendship Heights Metro Station.
The buildings are connected by a 460-space parking garage. It is 94% leased to a mix of office and retail tenants, including The JBG Cos., which uses it as its headquarters, The Ritz-Carlton Hotel Co., which is also headquartered there and Capital One. Retail tenants include Chipotle Mexican Grill, Meiwah, Panera Bread, Lia's, and Sun Trust.
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.