ALEXANDRIA, VA-Carr Properties has secured$32.5 million in permanent financing from a USdomestic bank. The loan is for the Atrium Buildingin Old Town Alexandria, a 138,507-square footbuilding located at 277 South Washington St.
Cassidy Turley's John Campanella andPaul Spellman helped secure the financing. CarrProperties has owned the building for some time, Campanella tellsGlobeSt.com. The loan on the property came due and the company hada choice of refinancing or selling it. It decided it would farebetter in the finance market, Campanella says. And indeed, the loanthe company secured was very competitive. "I would say it pricedtighter than any other suburban office deal we have done so farthis year or 2012," he says.
The Atrium is a five-story, 94% leased office building that wasrenovated in 1999.
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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.
