WASHINGTON, DC-Increasingly, as the recovery takes hold, commercial real estate lenders are encroaching on each other’s turf. Life insurance companies are offering longer terms, as are banks in many cases. CMBS, for its part, is pricing close to, or even better than life. Thus the appearance, every now and then, of life insurance company financing that stretches beyond the typical ten years.

The local market saw that with the 20-year, fixed-rate $181-million permanent loan a life insurance company recently provided for 1000 Connecticut Ave., N.W. It also saw it with the $27.8 million, 15-year term loan Prudential Insurance Co. of America recently provided for 1666 K St., NW, a 12-story, 286,000-square-foot office building on Farragut Square in Washington’s DC’s CBD. Cassidy Turley’s Christian Miles, Philip Mudd and Bradley Geiger secured the financing on behalf of 1620 K Street Associates LP. They also, as it happened, secured the $181 million permanent loan.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.



Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.