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Capital One Bank Provides $100MM Secured Term Loan to Lakeway Center

August 05, 2013, 01:06 PM
Filed Under: Real Estate

Capital One Bank announced today that it has provided a $100 million, ten-year term loan to Lakeway Center, to finance the acquisition of Lakeway Center, three adjacent office towers  in Metairie, LA. 

The Feil Organization, the sponsor behind Lakeway Center, LLC, is one of the largest, privately-owned real estate companies in the United States. The company was founded more than 50 years ago, and its investment portfolio includes more than 5,000 residential units, 8.4 million square feet of office space, 3.7 million square feet of net leads property and more than 35 shopping centers around the country.

The Lakeway Center, a 1.2 million square foot complex located just seven miles east of the New Orleans International Airport, includes a 3,700 space parking garage, convenience shop, conference center, deli, copy shop and a 30,000 square foot health club. It also houses a separately-owned, full-service Marriott Hotel.

“We are pleased to support The Feil Organization and Lakeway Center as they expand their commercial real estate portfolio in the New Orleans area,” said Ben Stacks, Greater New York Market Manager, Capital One Bank Commercial Real Estate. “We value the relationship we’ve established with The Feil Organization and look forward to working with them for years to come.”

“The Capital One Bank team provided the financial solution we needed to complete this acquisition on a timely basis,” said Jeffrey Feil, President and Chief Executive Officer of The Feil Organization. “Capital One Bank’s skilled and dedicated team provided us with strategic financing options that will help us achieve our long-term goals.”

Capital One Bank’s Commercial Real Estate Group provides financing in markets including New York; New Jersey; Massachusetts; Pennsylvania; Washington, D.C.; Virginia; Maryland; Texas; and Louisiana. The group offers a comprehensive array of solutions for property owners and developers, including commercial lending, financing, underwriting, and treasury management.

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