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Republic Properties Refinances Office Building With $96.5M Loan In Washington, DC
FINANCED
$96,500,000
Office
Financed
FINANCED
Republic Properties Refinances Office Building With $96.5M Loan In Washington, DC
445 12th Street Northwest
See Similar DealsOffice
Financed
Summary
OHIO
Asset Type:Office
Transaction Type:Loan
Anchored in the heart of Washington, DC, the office asset located at 445 12th Street Northwest, known as Portals II, recently underwent a refinancing deal. The loan amount of $96.5 million was secured by Republic Properties for this 600,000 square foot office building. The loan, provided by an unnamed pension fund, is set to mature in 2037.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $96,500,000
- Market: Washington, DC
- Address: 445 12th Street Northwest
- Landlord: Steve Grigg - Republic Properties
- Loan Type: Refinance
- Loan Arrangement: JLL Securities
JLL Securities played a pivotal role in arranging the financing for the Portals II office building. The loan, structured for a significant amount and with a lengthy maturity date, was successfully secured by Republic Properties, highlighting a strategic financial move in the Washington, DC market.
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$96,500,000.00
Monthly NOI$643,333.33
Monthly Debt Service$609,945.64
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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