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Republic Properties Secures $195 Million Construction Loan From Kennedy Wilson & Pearlmark For Portals IV

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FINANCED
$195,000,000

Dc

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Development Site
Financed 05/14/2025
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Property Image
FINANCED

Republic Properties Secures $195 Million Construction Loan From Kennedy Wilson & Pearlmark For Portals IV

1301 Maryland Avenue Southwest

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Development Site
Financed 05/14/2025
the dealplayerscompscontact
Contact now

Summary

Asset Type:Development Site
Transaction Type:Loan

The asset involved is a development site located at 1301 Maryland Avenue Southwest in Washington, D.C. Republic Properties secured a construction loan valued at $195,000,000 for the project known as Portals IV, which will consist of 356 multifamily units. This loan marks a significant step in completing the final phase of the Portals development, which has been underway for several decades.

Summary of transation details:

The key individuals in this transaction include Republic Properties as the landlord, who is leading the development of Portals IV. Kennedy Wilson & Pearlmark acted as the lender for this construction loan, facilitating the financing necessary for the completion of the project.

Players

Pearlmark
Pearlmark
LENDER

Details

FINANCED
IMAGE: 05/14/2025 ADDRESS: 1301 Maryland Avenue Southwest MARKET: Washington, DC ASSET TYPE: Development Site LENDER: Kennedy Wilson & Pearlmark LANDLORD: Republic Properties LOAN AMOUNT: $195,000,000 LOAN TYPE: Construction NOTE: Republic Properties secured a $195M construction loan for Portals IV, a 356-unit multifamily project at 1301 Maryland Ave SW in Washington, D.C., marking the final phase of its decades-long Portals development.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$195,000,000.00

Monthly NOI$1,300,000.00
Monthly Debt Service$1,232,532.65
Change in Cash Flow$0.00
Refinance Proceeds$0.00