{"id":1004116559,"date":"2015-03-31T05:59:11","date_gmt":"2015-03-31T13:59:11","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004116559"},"modified":"2022-12-08T16:11:47","modified_gmt":"2022-12-09T00:11:47","slug":"cbre-arranges-acquisition-financing-for-dc-office-property","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/cbre-arranges-acquisition-financing-for-dc-office-property\/","title":{"rendered":"CBRE Arranges Acquisition Financing for DC Office Property"},"content":{"rendered":"<p><em>By Barbra Murray, Contributing Editor\u00a0<\/em><\/p>\n<div id=\"attachment_1004116563\" style=\"width: 160px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/03\/Charles-Foschini-CBRE.jpg\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004116563\" data-attachment-id=\"1004116563\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/cbre-arranges-acquisition-financing-for-dc-office-property\/charles-foschini-cbre\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/03\/Charles-Foschini-CBRE.jpg\" data-orig-size=\"348,336\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1061914244&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;}\" data-image-title=\"Charles Foschini CBRE\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Charles Foschini, CBRE&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/03\/Charles-Foschini-CBRE.jpg?w=348\" class=\"size-thumbnail wp-image-1004116563\" alt=\"Charles Foschini, CBRE\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/03\/Charles-Foschini-CBRE.jpg\" width=\"150\" height=\"150\" \/><\/a><p id=\"caption-attachment-1004116563\" class=\"wp-caption-text\">Charles Foschini, CBRE<\/p><\/div>\n<p>It\u2019s not just the premier office buildings that are getting financing these days. CBRE Capital Markets\u2019 Debt &amp; Structured Finance team has just arranged a $63.6 million loan for Brazil-based private family interest\u2019s acquisition of 2025 M St., a Class B office building featuring 195,600 square feet in Washington, D.C.<\/p>\n<p>Ownership of 2025 M changed hands in a $109 million deal this quarter, and CBRE secured the acquisition financing&#8211;a 10-year loan with an aggressive rate and three years interest only&#8211;from RAIT Financial Trust.<\/p>\n<p>Charles Foschini, vice chairman of South Florida markets with CBRE, told <i>Commercial Property Executive<\/i> that RAIT and other lenders were attracted to 2025 M\u2019s \u201cstrong Tier 1 market location in Washington D.C., the strength and quality of the borrower and a low loan basis relative to land value in the D.C. market.\u201d<\/p>\n<p>And 2025 M\u2019s tenancy couldn\u2019t have hurt. The building is 98 percent occupied and it has enviably maintained an average lease rate of 97 percent over the last 10 years, according to CBRE\u2019s executive summary of the property.<\/p>\n<p>Offers rolled in despite the fact that 2025 M, although described by CBRE as a \u201cmagnificent property\u201d&#8211;doesn\u2019t precisely fit the typical mold of a lender\u2019s dream opportunity. In addition to being a notch below premier status, the asset, which was developed in 1971 and renovated in 1995, required the reconciliation of the property\u2019s land value; the future development rights above the existing improvements; the current income stream; and a tenant roster that has its share of occupants that rely on government allocations. Yet, lender interest in providing financing for 2025 M ultimately resulted in a competitive process.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>It\u2019s not just the premier office buildings that are getting financing these days. <\/p>\n","protected":false},"author":969,"featured_media":1004116563,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21783,11,21742,21747],"tags":[],"class_list":["post-1004116559","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment","category-midatlantic","category-latest","category-office"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>CBRE Arranges Acquisition Financing for DC Office Property - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/cbre-arranges-acquisition-financing-for-dc-office-property\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"CBRE Arranges Acquisition Financing for DC Office Property\" \/>\n<meta property=\"og:description\" content=\"It\u2019s not just the premier office buildings that are getting financing these days.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/cbre-arranges-acquisition-financing-for-dc-office-property\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2015-03-31T13:59:11+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T00:11:47+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/03\/Charles-Foschini-CBRE.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"348\" \/>\n\t<meta property=\"og:image:height\" content=\"336\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Barbra Murray\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/cbre-arranges-acquisition-financing-for-dc-office-property\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/cbre-arranges-acquisition-financing-for-dc-office-property\\\/\"},\"author\":{\"name\":\"Barbra Murray\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/d1edda962dd3af55af8a203870f9fc32\"},\"headline\":\"CBRE Arranges Acquisition Financing for DC Office Property\",\"datePublished\":\"2015-03-31T13:59:11+00:00\",\"dateModified\":\"2022-12-09T00:11:47+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/cbre-arranges-acquisition-financing-for-dc-office-property\\\/\"},\"wordCount\":291,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/cbre-arranges-acquisition-financing-for-dc-office-property\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2015\\\/03\\\/Charles-Foschini-CBRE.jpg\",\"articleSection\":[\"Investment\",\"Mid-Atlantic\",\"News\",\"Office\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/cbre-arranges-acquisition-financing-for-dc-office-property\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/cbre-arranges-acquisition-financing-for-dc-office-property\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/cbre-arranges-acquisition-financing-for-dc-office-property\\\/\",\"name\":\"CBRE Arranges Acquisition Financing for DC Office Property - 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