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WASHINGTON, DC-Funding has been secured for a spec office building being developed by Carr Properties that is expected to deliver in Q3 ’09. The building, located at 901 K St., is a 261,000-sf trophy office in the CBD, on which Carr began construction last June.

The Washington, DC office of Holliday Fenoglio Fowler LP arranged a $104-million construction loan facility for the building, which is being designed to Gold LEED standards. HFF senior managing directors Bill Asbill and Bob Donhauser, and director Cary Abod secured the 36-month loan with a consortium of banks, including Wells Fargo Bank National Association, which is serving as administrative agent for the facility and PNC Bank National Association, as syndication agent. The bank group also includes US Bank National Assoc. and Chevy Chase Bank.

The property will be a 12-story class A office building with floorplates ranging from 15,000 sf to 23,000 sf. The property fronts 10th and K streets and Massachusetts Avenue. Clark Construction Group is the general contractor and Jones Lang LaSalle has been selected as the leasing agent. SmithGroup is the architect. Other design elements include a glass curtain wall on the exterior and double glazed terra cotta architectural stone with stainless steel columns and railings for the retail component of the building. Amenities will include a fitness center and a penthouse rooftop terrace facing Mt. Vernon Square.

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