PRUDENTIAL PROVIDES $125 MILLION LOAN
ARLINGTON, VA. — Prudential Mortgage Capital Co. has closed a $125 million loan for Saul Centers, a Bethesda, Md.-based REIT on behalf of Prudential's General Account. The loan provides financing for Clarendon Center, a new 402,00-square-foot mixed-use development located in Arlington. The 15-year loan has a 25-year amortization. The south tower contains 244 luxury apartments, 75,500 square feet of Class A office space and 29,500 square feet of ground floor retail anchored by Trader Joe's. The north tower contains 95,500 square feet of Class A office space and 13,000 square feet of fully leased ground floor retail.