Updated Oct 28, 2024
Eagle Bank Provides $45.1M Loan For Mixed-Use Property In Washington, DC
2251 Sherman Avenue Northwest, Washington, District Of Columbia 20001, United States
$45,100,000
Building Size
—
Asset Type
Mixed-use
Closing
Sep 28, 2022
About this deal
AI
The property asset involved in this transaction is a mixed-use property located at 2251 Sherman Avenue NW and 2047 9th Street NW in Washington, DC. The loan for this transaction was provided by Eagle Bank, with a loan amount of $45,100,000. The landlord of the property is Lowe, FLGA & Davenport Group. The brokers involved in this deal are JLL.
Summary of transaction details
- Property Type: Mixed Use
- Transaction Amount: $45,100,000
- Address: 2251 Sherman Avenue NW & 2047 9th Street NW
- Market: Washington, DC
- Lender: Eagle Bank
- Landlord: Lowe, FLGA & Davenport Group
- Brokers: JLL
This transaction highlights the key individuals and companies involved in the deal. It showcases the collaboration between the lender, Eagle Bank, and the landlord, Lowe, FLGA & Davenport Group. The brokers from JLL played a crucial role in facilitating the transaction, ensuring a successful outcome for all parties involved.
Players
Washington Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Loan transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.35%
Cash-on-Cash
-0.10%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93