{"id":1004125252,"date":"2015-08-13T07:28:08","date_gmt":"2015-08-13T15:28:08","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004125252"},"modified":"2025-02-24T23:55:43","modified_gmt":"2025-02-25T07:55:43","slug":"capital-one-boosts-brookfield-in-the-capital","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/capital-one-boosts-brookfield-in-the-capital\/","title":{"rendered":"Capital One Boosts Brookfield in the Capital"},"content":{"rendered":"

By Barbra Murray, Contributing Editor<\/em><\/p>\n

<\/em>Capital One<\/u><\/a> isn\u2019t shy about doling out hefty loans for the right borrower and the right property. As a case in point, the financial services firm’s commercial real estate group recently closed a $110 million loan for Brookfield Asset Management<\/a>\u2019s Brookfield Real Estate Opportunity Fund I, which used the proceeds to refinance 64 New York Ave. NE, a 355,000-square-foot office building in Washington, D.C.<\/p>\n

When it comes to obtaining financing, there\u2019s much to be said for a solid relationship. \u201cBrookfield is a long-time client of Capital One with whom we value as a trusted and reputable entity,\u201d Michael Sleece, senior vice president with Capital One, told Commercial Property Executive<\/em>.<\/p>\n

Capital One, serving as sole lead agent, sole bookrunner, and administrative agent, provided Brookfield with a senior secured, non-recourse loan. The decision to supply the relatively large sum, however, was based on more than just a good relationship.<\/p>\n

\u201cThe quality of the sponsorship in Brookfield is unparalleled and it is an entity that has a long and successful track record in the D.C. office market,\u201d Sleece explained. \u201cAdditionally, the property is well in excess of 90 percent leased under long-term leases to the (city) government, providing long-term stable cash flows.\u201d Tenants include the city of Washington’s Department of Human Services and Mental Health.<\/p>\n

Brookfield has owned the six-story tower, located on a five-acre parcel in the NoMa\/Capitol Hill submarket, since 2005, and last refinanced the asset in 2013<\/u> with a $95.5 million first mortgage loan though Mesa West Capital.<\/p>\n

\u201cThe team at Capital One understands our business model and our commitment to improving the properties we purchase and realizing their potential value,\u201d Seamus Foran, senior vice president with Brookfield, said in a statement. \u201cIt is refreshing to work with a lender that devotes itself to helping us achieve our goals.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

The financial services firm provided a $110 million loan on a Washington, D.C., office building for a Brookfield Asset Management affiliate.<\/p>\n","protected":false},"author":969,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21825,21742,21747,1615],"tags":[],"class_list":["post-1004125252","post","type-post","status-publish","format-standard","hentry","category-finance","category-latest","category-office","category-washington-dc"],"acf":[],"yoast_head":"\nCapital One Boosts Brookfield in the Capital - 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\/capital-one-boosts-brookfield-in-the-capital\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Capital One Boosts Brookfield in the Capital\" \/>\n<meta property=\"og:description\" content=\"The financial services firm provided a $110 million loan on a Washington, D.C., office building for a Brookfield Asset Management affiliate.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/capital-one-boosts-brookfield-in-the-capital\/\" \/>\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=\"2015-08-13T15:28:08+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-02-25T07:55:43+00:00\" \/>\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\\\/capital-one-boosts-brookfield-in-the-capital\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/capital-one-boosts-brookfield-in-the-capital\\\/\"},\"author\":{\"name\":\"Barbra Murray\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/d1edda962dd3af55af8a203870f9fc32\"},\"headline\":\"Capital One Boosts Brookfield in the Capital\",\"datePublished\":\"2015-08-13T15:28:08+00:00\",\"dateModified\":\"2025-02-25T07:55:43+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/capital-one-boosts-brookfield-in-the-capital\\\/\"},\"wordCount\":313,\"commentCount\":0,\"articleSection\":[\"Finance\",\"News\",\"Office\",\"Washington D.C.\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/capital-one-boosts-brookfield-in-the-capital\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/capital-one-boosts-brookfield-in-the-capital\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/capital-one-boosts-brookfield-in-the-capital\\\/\",\"name\":\"Capital One Boosts Brookfield in the Capital - 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