{"id":1004152943,"date":"2016-09-21T01:19:23","date_gmt":"2016-09-21T09:19:23","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004152943"},"modified":"2020-04-30T09:10:48","modified_gmt":"2020-04-30T17:10:48","slug":"greysteel-arranges-financing-for-mixed-use-redevelopment","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/greysteel-arranges-financing-for-mixed-use-redevelopment\/","title":{"rendered":"Greysteel Arranges Financing for DC Redevelopment Project"},"content":{"rendered":"<p>by Gabriel Culcsar<\/p>\n<div id=\"attachment_1004152957\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/09\/CafeParadiso1.jpg\" target=\"_blank\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004152957\" data-attachment-id=\"1004152957\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/greysteel-arranges-financing-for-mixed-use-redevelopment\/cafeparadiso-2\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/09\/CafeParadiso1.jpg\" data-orig-size=\"305,258\" 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;0&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;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"CafeParadiso\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/09\/CafeParadiso1.jpg?w=305\" class=\"wp-image-1004152957 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/09\/CafeParadiso1.jpg\" alt=\"2649 Connecticut Ave., NW., Woodley Park\" width=\"300\" height=\"254\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/09\/CafeParadiso1.jpg 305w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/09\/CafeParadiso1.jpg?resize=300,254 300w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004152957\" class=\"wp-caption-text\">2649 Connecticut Ave., NW., Woodley Park<\/p><\/div>\n<p><strong>Washington<\/strong>\u2014<a href=\"https:\/\/greysteel.com\/\" target=\"_blank\" rel=\"nofollow\">Greysteel<\/a>\u00a0has secured $3.6 million in acquisition and construction financing for the redevelopment of\u00a0a <a href=\"https:\/\/www.commercialsearch.com\/news\/mixed-use\/\" target=\"_blank\">mixed-use property<\/a> located at 2649 Connecticut Ave., NW., in the Woodley Park neighborhood of Washington, D.C.<\/p>\n<p>Greysteel Director Mark Bittenbender and Senior Finance Associate Brittany Wismer led the negotiation efforts, procuring the loan.<\/p>\n<p>Provided by a balance sheet lender, the five-year, non-recourse loan has a competitive fixed-rate and interest in payments for the first two years, with a 30-year amortization period.<\/p>\n<p>The mixed-use asset located in close proximity to the Smithsonian National Zoological Park will offer two four-bedroom residential units with a total space of 3,350 square feet and an additional 3,610-square-foot retail space.<\/p>\n<p>\u201cThe track record and profile of the sponsor, coupled with the exceptional real estate, made this an extremely attractive financing opportunity,\u201d said Bittenbender in prepared remarks. \u201cWe were able to create a competitive market for our client and achieve terms tailor-made to their acquisition and return objectives.\u201d<\/p>\n<p><em>Image\u00a0via Google Maps<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The financing was arranged on behalf of an affiliate of Martin Development Co.<\/p>\n","protected":false},"author":1065,"featured_media":1004152957,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21782,21825,11,21752,21742,1615],"tags":[],"class_list":["post-1004152943","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-development","category-finance","category-midatlantic","category-mixed-use","category-latest","category-washington-dc"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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