Cushman & Wakefield served as the exclusive advisor to JOSS Realty Partners in arranging a $24.5 million senior mortgage loan for Georgetown Plaza in Washington, DC.
The three year financing, with two one-year extension options, was provided by Square Mile Capital Management LLC.
Located at 2233 Wisconsin Avenue NW in Washington, DC, the property is a 79% occupied, five-story, 150,097 s/f boutique office building built in 1964 and renovated in 2007.
A Cushman & Wakefield Equity, Debt & Structured Finance team of Gideon Gil, Alexander Hernandez, Sridhar Vankayala and Alex Lapidus, served as exclusive advisor to JOSS Realty Partners.
A C&W team of Eric Berkman and Steven Gichner recently represented the seller, Carr Properties, in the sale of the office building.
“Lenders were attracted to the property’s location in the Georgetown submarket and the diversity of tenants in place,” said Gideon Gil, managing director.
“Additionally, the strong sponsorship and value-add business plan were also appealing to lenders.”