CityCenterDC Secures $390M in Construction Finance

WASHINGTON, DC- A J.P. Morgan led bank syndicate is providing the funding, which will be Shari'ah compliant.

By Erika Morphy | Updated on June 11, 2013

WASHINGTON, DC-The First Investor QSCC and Hines have secured $390 million in construction finance for their CityCenterDC project. A J.P. Morgan-led bank syndicate is providing the funding, which will be Shari’ah compliant.

TFI, the investment banking arm of Barwa Bank, helped to structure the transaction. TFI is also co-investing alongside the fund’s anchor investor Qatari Diar, the real estate investment arm of the Qatar Investment Authority. This investment in CityCenterDC—one of the city’s largest projects and reportedly the largest under development in the country right now—is also Qatar’s first major real estate investment in the US.

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