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

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:

• Property Type: Development Site
• Transaction Amount: $195,000,000
• Lender: Kennedy Wilson & Pearlmark
• Landlord: Republic Properties
• Loan Type: Construction
• Market: Washington, DC

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.