Redbrick LMD & Gragg Cardona Souadi Secure $37.6 Million Loan For Medical Office In Washington DC

The property involved in this transaction is a 117,075-square-foot outpatient medical facility located at 1201 Sycamore Drive Southeast in Washington, DC. The asset is part of the Congress Heights neighborhood and was completed in 2023, reflecting its modern design and functionality.

Summary of transaction details:

• Property Type: Medical Office
• Transaction Amount: $37,600,000
• Lender: Nuveen Green Capital
• Landlord: Redbrick LMD & Gragg Cardona Souadi
• Brokers: Brian Gould, Natalie Hershey, Patrick McGlohn, Patrick Cunningham & Hunter Wood - Berkadia

Berkadia secured the financing arrangement through Nuveen Green Capital on behalf of the borrowers, Redbrick LMD and Gragg Cardona Souadi. The financing is categorized as C-PACE, specifically designed to support energy-efficient upgrades and sustainability measures for the medical office facility.