THE WOODNER RECEIVES $74.75M IN FINANCING

WASHINGTON, D.C. — The Woodner, a 1,072-unit Class B multifamily property in Washington, D.C.’s Mount Pleasant neighborhood, received $74.75 million in financing from Berkeley Point Capital LLC. Two 13-story buildings connected by a lobby comprise The Woodner at 3636 and 3640 16^th St. The buildings are owned by separate but related entities and the transaction was underwritten as two separate loans. Proceeds will be used to pay off six existing loans maturing in June 2013 and to provide additional funds for upgrades to the art deco-style common areas. Rob Cantizano of Berkeley Point Capital’s Bethesda, Md. office led the transaction.