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$108M Secures Capitol Hill Office

WASHINGTON, DC-More deals are being financed by club-style arrangements between banks, or in the case of ACS, elements of a club-style deal.

By Erika Morphy | Updated on April 08, 2008

WASHINGTON, DC-Details behind the $107.6 million construction loan arranged for the American College of Surgeons’ build-to-suit , 165,000-sf office building illustrate the lengths to which both borrower and lender must go to finance a transaction these days. Jones Lang LaSalle’s Real Estate Investment Banking practice arranged the structured development and construction loan–which is covering ACS’ full development costs for the building–through the Northern Trust Co.’s Chicago branch.

Leading the team for this transaction were managing director Martin Kamm, VP Stephanie Lynch, and Associate Brandon Flickinger. “In this environment, it is very difficult to get construction loans done,” Lynch says.

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