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What Did Samsung Buy Into in DC?
July 9, 2014
Stay with us here: Samsung SRA, the real estate investment management arm of Samsung Life, the life insurance arm of Samsung, the electronics giant and conglomerate, has just made a $95M equity investment in Republic Properties' Portals III building in Southwest DC. It's part of an overall $255M financing package Republic has received for the building, including a $160M senior debt facility provided by another Asian investor, Korean Bank Exchange. Republic chief Steve Grigg says Samsung approached his firm directly about investing in the 509k SF building, which is currently 78% leased. CBRE's David Webb and Jamie Butler arranged the financing—see below for more from David on how deals are getting done.
