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NorthMarq Arranges $19.5M Acquisition Loan for Office Building in Metro D.C.

The 10-story building located at 1199 N. Fairfax St. in Alexandria features an underground parking garage and was 87 percent leased at the time of financing.

ALEXANDRIA, VA. — NorthMarq has arranged a $19.5 million acquisition loan for 1199 North Fairfax Street, a 108,118-square-foot office building in Alexandria. NorthMarq arranged a 10-year term loan through an undisclosed life insurance company. The financing featured a fixed interest rate followed by a 30-year amortization schedule on behalf. The 10-story building features an underground parking garage and was 87 percent leased at the time of financing. The asset is situated eight miles south of downtown Washington, D.C. The borrower was not disclosed.

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