Regions Midatlantic | Washington, DC
Corus, Lehman Bros. Make D.C. Loans
May 15, 2008

Corus Bank closed a $72 million loan to MR BP Office #1 L.L.C. to finance the construction of a nine-story Class A office building located at 55 M Street SE in Washington, D.C. In addition to the senior Loan with Corus, the borrower closed simultaneously on a $12 million mezzanine loan with Lehman Brothers. At the time of closing, the project was approximately 60 percent complete.The project is being developed by a joint venture between Monument Realty and its investor partners, MacFarlane Partners and Lehman Brothers. The project will include 261,000 net rentable square feet of Class A office space, 13,000 net rentable square feet of retail space, and three levels of underground parking. The office building will be a part of Monument Realty’s “Half Street” project, which is planned to include additional retail, residential and hotel components.

 
Recent Washington,DC Headlines
Corus Bank Completes $60M Loan to Finance MF Construction in Washington, D.C.
July 03, 2008
Corus Bankshares Inc. said that its banking subsidiary, Corus Bank, closed a $60 million loan to a joint venture between The Cohen Cos. and O’Connor Capital Partners L.L.C. to finance the construction of Velocity, a 14-story condominium building located at 1025 First Street SE in Washington, D.C.
Washington, D.C. Experienced Positive Absorption, Cassidy & Pinkard Reports
July 01, 2008
Cassidy & Pinkard Colliers said today that Washington, D.C. metropolitan area office market experienced an overall positive net absorption of 217,900 square feet in the second quarter of 2008.
DC Officials Plan TIF Package for $260M Mixed-Use Project
June 27, 2008
Roadside Development, the company behind the planned CityMarket at O mixed-use redevelopment endeavor, is on track to get a helping hand from the District of Columbia for the funding of the $260 million project.
Sperry Van Ness Expands into Washington, D.C., Hires Sims as Managing Director
June 27, 2008
Sperry Van Ness has expanded its presence in the Washington, D.C. market by aligning with Michael Sims, who will now serve as managing director for Sperry Van Ness/Advisory Real Estate Services L.L.C.
Army, Trammell Crow Shake Hands on $500M Office Project
June 26, 2008
The U.S. Army's Fort Meade, located less than 30 miles from Washington, D.C., in Anne Arundel County, Md., is on track to sprout an office complex with as much as 1.7 million square feet now that the U.S. Army Corps of Engineers has reached a tentative agreement with Trammell Crow Co. for the project's development.