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$46M Financing Closes for Mixed-Use Complex

ALEXANDRIA, VA-Two buildings within the Kingstowne Towne Center get financing to the tune of $46 million allowing the borrower to take advantage of current low interest rates. The 239,000-sf complex consists of an entertainment and retail facility, and a planned office structure.

By Barbra Murray | Updated on January 26, 2006

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ALEXANDRIA, VA-A 239,000-sf mixed-use complex ix financed courtesy of a $46- million deal that just closed. The project is sited on a seven-acre parcel within the 150-acre Kingstowne Towne Center.

The borrower relied on Kenneth Gentzel and Gary McGlynn of NorthMarq Capital Inc.’s Washington, DC Regional office to orchestrate the first mortgage permanent financing package, which was provided by a life insurance company. The financed class A complex is a two-part property that involves the one-year-old Kingstowne Building Q, which features a 69,000-sf movie theater and 20,000 sf of inline retail space, and Kingstowne Building K, a 150,000-sf office structure that is currently in the works adjacent to Building Q.

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