EagleBank Provides $26M Loan for Acquisition, Redevelopment of Mazza Gallerie in D.C.
WASHINGTON, D.C. — EagleBank, a community bank in the Washington, D.C., area, has provided $26 million in acquisition financing for the revitalization of Mazza Gallerie, a landmark retail space in D.C.’s Friendship Heights neighborhood. The borrower, Tishman Speyer, a real estate developer and owner based in New York City, will use the loan to fund both the purchase of the property and the ground-up construction of approximately 350 apartments and 26,000 square feet of ground-floor retail at the site.
Barb Mackin, Sameera Rizvi and Jeniffer Mejia of EagleBank originated the loan, the terms of which were not disclosed.
Mazza Gallerie is situated on the Wisconsin Avenue retail corridor and is adjacent to the Friendship Heights Metro rail station. The property has access to walkable outdoor amenities and 440,000 square feet of shops and restaurants.