Carr Properties Secures $33M in Permanent Finance

ALEXANDRIA, VA-Carr Properties has secured $32.5 million in permanent financing from a US domestic bank. The loan is for the Atrium Building in Old Town Alexandria, a 138,507-square foot building located at 277 South Washington St.

Cassidy Turley’s John Campanella and Paul Spellman helped secure the financing. Carr Properties has owned the building for some time, Campanella tells GlobeSt.com. The loan on the property came due and the company had a choice of refinancing or selling it. It decided it would fare better in the finance market, Campanella says. And indeed, the loan the company secured was very competitive. “I would say it priced tighter than any other suburban office deal we have done so far this year or 2012,” he says.