$67M Loan Aids $90M Transpoint Acquisition

WASHINGTON, DC-A deal has been struck to help facilitate the purchase of the Transpoint Building with a $67-million loan. CDC Mortgage Capital Inc., the US commercial real estate financing division of Paris-based global investment management firm CDC Ixis, facilitated the financing package–which covers the partial purchase price–on behalf of borrower TBC Funding Corp. TBC is taking the 500,000-sf building off the hands of the estate of Dr. Laszlo Tauber for $90.5 million. According to District records, the property has a current assessed value of $42 million.

Located on an approximately 2.5-acre parcel of land in the Southwest area of the District, the Transpoint Building’s appeal was undoubtedly influenced by the fact that it is fully leased by the US General Services Administration. The US Coast Guard takes up most of the building, while the National War College occupies just one remaining floor. It was back in 1993 that the GSA initiated the lease, which is scheduled to expire in May 2008.