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Washington, D.C. Morning Brief Washington DC

Washington, D.C. Morning Brief

March 27, 2018 Bisnow

Bisnow Morning Brief Washington DC

15 Things You Need to Know This Morning

Douglas Development Gets Financing

For Stanton Park Office Acquisition

EagleBank has provided a loan to Douglas Development Corp. to offset a portion of the costs associated with the acquisition and renovation of a 16,319 SF office building located at 518 C St. NE, at the busy intersection of Massachusetts and Maryland avenues. EagleBank’s loan will fund purchase, tenant improvements, leasing commissions, landlord work, and cover interest reserve. Located in the Capitol Hill submarket, this Jemal’s Stanton Park L.L.C. project overlooks Stanton Park, providing picturesque park views, and a convenient 10-minute walk to Union Station for Amtrak and MARC Train travel. This vacant C Street building, previously housing a church, was built in 1990 and renovated in 2011. It is a tall, modern Victorian structure with four stories, including the basement. This equates to 16,319 rentable SF of office space situated on an 8,276 SF lot with three parking spaces.

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