FOUNDRY LOFTS RECEIVES $46 MILLION LOAN

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WASHINGTON, D.C. — A subsidiary of Forest City Enterprises has secured a $46.1 million loan for the 170-unit Foundry Lofts. The complex is located in The Yards mixed-use project in Washington. The 41-year loan, which was funded through $47.7 million of New Issue Bond Program bonds, carries a 4.66 percent interest rate. The District of Columbia Housing Agency and the U.S. Department of Housing and Urban Development worked to finalize the loan.

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