Whitehall acquired the property, formerly known as Xerox Document University, from Xerox in June 2000 and immediately began a $29-million renovation that concluded in 2002. The property was then renamed National Conference Center. A GMACCM spokesperson tells GlobeSt.com that the borrower sought the financing, which came in the form of an interim floating-rate loan, to facilitate the completion of the property upgrade.

The center occupies a 110-acre parcel off Route 7 at 18980 Upper Belmont Pl., just five miles from Dulles International Airport and 20 miles from Washington, DC. Xerox developed the center as a full-service conference and training facility to be used exclusively by the company in 1974. Today, the updated site features 950 guestrooms, 200,000 sf of meeting space in various rooms, a 30,000-sf fitness center, cafeteria, lounge and a guest laundry facility.

The center is the largest in Loudoun County. GMACCM senior vice president Robert M. Keating and vice president Robert S. Lipson, both out of the company's New Jersey loan origination office, facilitated the transaction.