(To read more on the debt and equity markets and themultifamily market, click here.)
WASHINGTON, DC-Mezzanine financing for the construction of acondominium property at 2501 Pennsylvania Ave. NW has closed. Thecondominium at 2501 Pennsylvania will feature ground-level retailand two-levels of underground parking for tenants.
GoldenTree InSite Partners supplied the mezzanine financingportion of the construction funding, BB&T served as the seniorunderwriter, and borrower Intrepid Real Estate LLC provided theequity above that, leaving the project fully capitalized. The totalconstruction cost for the 18-unit property is $36 million.
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