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1401 Pennsylvania SE rendering

WASHINGTON, DC–A forthcoming Class-A apartment and retail development at 1401 Pennsylvania Ave., SE is now fully funded. The developers, CAS Riegler Cos. and May Development, secured a $44.5 million construction loan with EagleBank and $17 million in preferred equity by EB5 Capital. Phillips Realty Capital arranged both components of the capital stack.

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.

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