Natixis Real Estate Capital has provided a $26 million, 10-year, fixed-rate CMBS loan to Douglas Development to refinance a commercial office building located at 901 7th Street, NW in Washington, DC.
The five-story commercial building, built in the late 1800s, is located in DC’s Chinatown neighborhood. It was formerly a Marlo furniture store but Douglas Development completed extensive renovations in 2000.
The building is fully occupied, anchored by a TD Bank branch and also including tenants Destination DC, Global Navigators, Heather Podesta + Partners and Dangerously Delicious Pies.
Last month Natixis provided an $81.5 million loan to Northwind Group and Newmark Holdings for the acquisition of a 20-story office building at 40-42 Exchange Place in Manhattan’s Financial District.
In September, the firm provided one of its largest recent New York City loans with a $315 million fixed-rate loan to Savanna for the refinancing of One Court Square, aka the Citigroup Building.
Savanna and a private investor group acquired a controlling interest in the 52-story, 1.5 million sq ft office building — the tallest in New York State outside of Manhattan — from a private investment group led by David Werner in the summer of 2014 for an undisclosed sum.
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