WASHINGTON, DC–GlobeSt.com has learned that Cushman & Wakefield's John Campanella and his team have secured a $103 million loan for Hana Asset Management Co. and Ocean West Capital Partners following their acquisition of Sentinel Square II earlier this year.
Word on the street has it that they landed a 5-year fixed rate loan with an international bank. Campanella declined to comment to GlobeSt.com.
The deal closed in a rising interest rate environment but a source says the borrowers were still able to catch the end of a period of extremely low Treasury rates, a source says.
Sentinel Square II is located at 1050 First St., NE, and its recorded price for the sale was $147 million.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
