The note is secured by three buildings 1000 and 1100 Wilson Blvd., or the submarket's Twin Towers, and 1101 Wilson Blvd. The properties are 98% leased by the federal government, Northrop Grumman, and Raytheon. "We have invested in fully-occupied, Class A trophy assets in one of the best locations in Rosslyn, which is one of the strongest markets in the DC area," Nicholas Bienstock, managing partner with Savanna, says in a prepared statement. "We purchased a note representing 50 to 67% 'post credit crunch' loan-to-value backed by the terrific sponsorship of Monday Properties."

The note is typical of the type of investment Savanna makes, a company spokesman tells GlobeSt.com. "Savanna targets notes secured by class A and B properties in major metro markets backed by the kind of real estate we by, own and operate for our own account. Typically we buy assets that have strong sponsors with substantial equity behind our last dollar debt basis."

He adds that Savanna has purchased 10 notes in the past year from banks at discounts of up to 30%. "The Rossyln portfolio purchase represented a terrific acquisition based on a substantial discount to par value and the particularly strong asset, market and sponsorship characteristics."