Ed Schulze and Oliver Carr arranged the 7.27% fixed interest rate deal for the building's owner, an affiliate of Reston-based Walker & Co. This equates to a 214 basis point spread over the 10-year treasury.
"We are the mortgage broker that placed the financing," Schulze says. "This was a pretty straightforward deal. It went very smoothly. Although I don't remember the actual rate the owner was paying, I can definitely say it was substantially higher. They're saving a lot of money."
A privately held real estate finance and investment firm headquartered here, Carr Capital has completed debt and equity placements totaling approximately $1 billion for third party clients. The firm owns, or has investments in approximately 425,000-sf of class A office properties. The company asset manages a portfolio of 2 million sf of class A office and hotel properties.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
