(Read more on the debt and equity markets.)

WASHINGTON, DC-Brophy Properties Inc. and Clark Enterprises Inc. have arranged permanent financing for a construction loan taken out to 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 the ground, which the two companies did not own, according to Perseus Realty Capital VP Lindsay Stroud, who co-led the transaction with Paul Dougherty. Stroud declined to say how much of the financial package was devoted to the land acquisition, other than Georgetown University was the seller.

He also declined to name the lender or provide more information about the terms, citing client confidentiality. “It was phenomenal pricing, though, I can say, for what is now an uncertain credit environment,” he tells GlobeSt.com. One factor that helped facilitate the transaction was the long-term lease signed by the General Services Administration last year to occupy the entire building except for the 40,000 sf of retail now occupied by McDonalds. “Because it was GSA, there were several different lending groups interested in the deal,” he adds.

The 460,000-sf Liberty Square is the lucky building that landed the US Department of Justice’s mandate last August to house 1,500 employees as part of a consolidation of the Antitrust Division and the Civil Division. The contract had a total contract value of about $300 million over the term of the lease, according to a statement made by the Department of Justice at the time.

Liberty Square was originally constructed in 1982. When it was vacated some 18 months ago by the Securities and Exchange Commission, the owners renovated the building to bring in a new tenant.

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