"The developer knows that not every lender who issues a term letter will actually be prepared to come to the table when it is time to close the deal," Corus first vice president Dwight Frankfather says, emphasizing loan financing endeavors in today's soft real estate market. "When Akridge approached us, the company was ready to break ground, and they wanted to start negotiations with a lender they thought they could trust to follow through to the end. Because Corus Bank brought the loan committee to the site and met the principals within a week of receiving the loan request, both sides quickly came to the conclusion that this deal could be done."

Located in the District's "new downtown" area just across the street from the city's new Convention Center, the Hellmuth, Obata & Kassabaum Inc.-designed 11-story tower offers 280,000 sf of upper level office space, 18,000 sf of ground level retail space, and an additional 52,000 sf of concourse/retail/office room on two below-grade floors. The 415-space sub-level parking garage for the structure, as well as the concourse shopping level, will link 900 Seventh Street with two other office buildings and a hotel on the same block. The building is scheduled for completion next summer. Akridge, which is marketing the property, will also handle the management and leasing activities.