Washington, DC – Cassidy Turley, a leading commercial real estate services provider in the U.S., announced today that it arranged $46.5 million in debt financing for Georgetown Center, two office buildings totaling 293,845 square feet located in Washington, DC. John Campanella secured the five-year, interest only loan from a CMBS lender on behalf of the owner, The JBG Companies.
Georgetown Center is located at 2121 and 2115 Wisconsin Avenue, NW. Currently 92 percent leased, the properties serve as a major off-campus location for Georgetown University and MedStar Health, two anchor tenants which require locations convenient to Georgetown University’s main campus and hospital located less than one mile away.
JBG acquired a 100 percent interest in Georgetown Center along with the acquisition of a majority interest in 1600 K Street last month.
About The JBG Companies
Headquartered in Chevy Chase, Maryland, The JBG Companies is an active developer, owner and operator of office, residential, hotel and retail properties with more than $10 billion in assets under management and development. JBG has established a reputation as one of the leading real estate companies in the Washington metropolitan area. Founded in 1960, in 2010 The JBG Companies marked half a century of business success and charitable involvement in the greater Washington community. More information can be found by visiting the company's Web site: http://www.jbg.com/ or by calling 240.333.3600.
About Cassidy Turley
Cassidy Turley is a leading commercial real estate services provider with 3,000 professionals in 60 offices nationwide. The company represents a wide range of clients—from small businesses to Fortune 500 companies, from local non-profits to major institutions. The firm completed transactions valued at $17 billion in 2010, manages 430 million square feet on behalf of private, institutional and corporate clients and supports over 25,000 domestic corporate services locations. Cassidy Turley serves owners, investors and occupiers with a full spectrum of integrated commercial real estate services—including capital markets, tenant representation, corporate services, project leasing, property management, project and development services, and research and consulting. In 2010, the firm enhanced its global service delivery outside of North America through its partnership with GVA. Please visit http://www.cassidyturley.com/ for more information about Cassidy Turley.