The funding comes in the form of a 10-year loan at a 5.7% note rate. The loan amortizes on a 30-year schedule. "Arbor was able to finance this transaction at over 85% of cost because of our belief in the strength and increasing values in the DC office market," adds Blass, who operates out of Arbor's New York City lending office. The property also features ground-level retail space, and is home to such tenants as the National Congress of American Indians, law firm McManus, Schor, Asmar & Darden LLP and area favorite Luna Grill & Diner.
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