(Read more on the debt and equitymarkets.)
WASHINGTON, DC-Brophy Properties Inc. and Clark Enterprises Inc.have arranged permanent financing for a construction loan taken outto renovate their Downtown office building, called Liberty Square.Located at 450 5th St., the building was financed with a 15-year,fixed-rate term for $177.5 million.
The loan also included the financing of the purchase of theground, which the two companies did not own, according to PerseusRealty Capital VP Lindsay Stroud, who co-led the transaction withPaul Dougherty. Stroud declined to say how much of the financialpackage was devoted to the land acquisition, other than GeorgetownUniversity was the seller.
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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.
