NORTHMARQ ARRANGES $31.5 MILLION MIXED-USE BUILDING LOAN IN D.C.

WASHINGTON, D.C. — NorthMarq Capital has arranged $31.5 million in acquisition and bridge financing for 1250 23rd Street Northwest in Washington, D.C. The 130,000-square-foot mixed-use/office building was 60 percent leased at the time of closing. Financing was based on a 3-year, interest-only term and was arranged for the undisclosed borrower by NorthMarq through a correspondent lender relationship. Gary McGlynn and Jason Smith of NorthMarq's Washington, D.C., Regional office secured the financing.