 |
| Rendering of Office Complex, Connecticut Avenue, Van Ness Neighborhood, Washington, DC |
NEW YORK, NY -- Winter
& Company has arranged and closed a $63,500,000, interest-only leasehold
mortgage for a unique, 600,000+ square foot asset, originally designed and
built for a single, high-tech corporation, which is located on Connecticut
Avenue in the Van Ness neighborhood of Washington, D.C.
 |
| Rendering of Park-Like Office Complex, Connecticut Avenue, Van Ness Neighborhood, Washington, DC |
The new loan, which is
subject to a long-term ground lease on the 7.8 acre park-like property, closed
in August 2016, and includes a substantial interest and carry reserve as well
as reserves to fund TI and LC.
The owner and developer is
a pre-eminent U.S. firm specializing in re-imagining, re-developing and
re-leasing very large office properties ranging from hundreds of thousands to
millions of square feet across the country. Over the past 15 years they have
become one of America’s leading private real estate acquisition, ownership,
development and management firms.
 |
| Gregg Winter |
The loan, which refinanced
an existing acquisition loan, was structured with limited, top-loss recourse,
which will sunset once the anticipated sale of a portion of the site closes.
Winter & Company is a
Manhattan-based, commercial mortgage advisory firm that specializes in
arranging development and construction financing as well as financing for
multifamily, and mixed-use properties since 1989.
Its affiliate, W Financial
Fund, LP is a direct private bridge lender providing short-term, special
situation financing primarily for NYC multifamily and mixed-use properties
since 2003.
For a complete copy of the company’s news release,
please contact:
Gregg Winter - President
Winter & Company
Creative Minds |
Unparalleled Service ®
149 Madison Avenue,
Seventh floor
New York, NY 10016
Phone: 212 532-9170
Email: gregg@winterandcompany.com
No comments:
Post a Comment