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2251 Sherman Avenue Northwe...

Updated Oct 28, 2024

Eagle Bank Provides $45.1M Loan For Mixed-Use Property In Washington, DC
FINANCEDMixed-use

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

EagleBank
EagleBankLender

Washington Mixed-use Market Snapshot

Boundary boundary · Mixed-use · Loan transactions

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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

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