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Capital One Provides $155MM Term Loan in Washington DC Office Building Acquisition

August 30, 2013, 07:00 AM
Filed Under: Real Estate

Capital One Bank provided a $155 million, seven-year term loan to Jamestown Premier One Metro Center Corp. The loan will be used to acquire a 12-story office building in Washington, D.C. The property, which was sold by Clarion Funds, is located at 701 13th Street NW, in Washington’s East End.

The property was built in 2003 and is located just three blocks away from the White House and directly above the second-busiest metro station. It includes more than 400,000 square feet of office space, which sits atop a separately owned department store.  The property is home to several prominent law firms. 

“Capital One’s hands-on approach and determination to find the best financing solution for us helped Jamestown acquire this premier property in a competitive marketplace,” Shak Presswala, Head of Capital Markets for Jamestown.

“Jamestown is a trusted client of Capital One Bank,” said Ben Stacks, Greater New York Market Manager, Capital One Bank Commercial Real Estate. “Over the past two years we have worked with Jamestown on several transactions and we look forward to supporting them as they continue to grow.”

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, deposit services, and treasury management.

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