It was a 10-year term, with a two-year IO period and 30-year amortization, divided into a senior note of $64 million and subordinated note of $4.5 million. Edwards would not give the precise interest rate but did say it was not below 6%. The LTV was 85%.

Edwards says it's atypical for lenders to offer 100% of costs even in the strong Washington, DC area market. "Typically they want to have some equity in the transaction." That said, he adds, if certain elements align properly, such terms can be had. "There has to be a strong sponsor such as the George Mason University Foundation, a class A location and assets and a strong tenant."

The building is a six-story class A building in the Rosslyn-Ballston corridor. It has 192,000 sf of office space, which is currently 100% leased for a term of 10 years to government contractor SRA International Inc. There is an additional 14,000 sf of retail space, which Edwards believes is close to fully leased. There is also a six level, partially underground, parking garage that is fully leased to SRA and George Mason University.