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Georgetown Park Retail Note Auctioned for $61M

WASHINGTON, DC-Angelo, Gordon & Co. reportedly won the auction, opening up a number of options for the property including a repositioning/leasing effort or other zoning possibilities.

By Erika Morphy  | Updated on June 28, 2010

WASHINGTON, DC-After going to auction last week, the note on the Shops at Georgetown Park has reportedly sold for $61 million to Angelo, Gordon & Co., according to local writer Carol Joynt, who broke the news Friday afternoon. The Washington Business Journal confirmed the sale with several sources. 

None of the principals in the transaction–from Jones Lang LaSalle, which handled the auction, to Western Development, which defaulted on the $70-million loan, to EastBanc, which had wanted to buy the retail center–are commenting on the deal. 

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