NorthMarq Capital closes $73.5 million permanent financing for office in Washington, D.C.

WASHINGTON, D.C. (July 18, 2017) NorthMarq Capital closed permanent mortgage financing of $73.5 million on an office property located in Washington, D.C. The loan was placed with Nationwide Life Insurance Company, one of NorthMarq’s long standing correspondent Lenders. The loan was arranged by Andrew J. Singer and Kathleen McSharry of The Singer & Bassuk Organization who represented the borrower TF Cornerstone “TFC.” TFC’s property portfolio includes a solid, fully-operational collection of class “A” luxury residential buildings, modern office spaces and highly visible retail locations totaling over 8 million square feet throughout New York City and Washington, D.C. The NorthMarq team included Jason M. Smith and Gary McGlynn of the Washington, D.C. office and Brian Wylie and Craig Bjornsund in the New York City office. The loan is secured by a 190,000 sq. ft. class “A” multi-tenant office building located in the heart of the Washington, D.C. Central Business District. Originally built in 1981, the property was extensively renovated and expanded in 2009. The building is 95 percent leased and within walking distance of the Foggy Bottom, Farragut West and Farragut North Metrorail stations.