{"id":1004271185,"date":"2018-10-12T04:04:55","date_gmt":"2018-10-12T12:04:55","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004271185"},"modified":"2022-12-08T16:47:38","modified_gmt":"2022-12-09T00:47:38","slug":"dc-retail-center-lands-61m-financing","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/dc-retail-center-lands-61m-financing\/","title":{"rendered":"DC Retail Center Lands $61M Financing"},"content":{"rendered":"<p>By IvyLee Rosario<\/p>\n<div id=\"attachment_1004271245\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/10\/101018-WD-Arranges-61M-in-Financing-for-Trophy-Retail-Development-in-DC-004-pdf-Adobe-Acrobat-Pro.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004271245\" data-attachment-id=\"1004271245\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/dc-retail-center-lands-61m-financing\/101018-wd-arranges-61m-in-financing-for-trophy-retail-development-in-dc-004-pdf-adobe-acrobat-pro\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/10\/101018-WD-Arranges-61M-in-Financing-for-Trophy-Retail-Development-in-DC-004-pdf-Adobe-Acrobat-Pro.jpg\" data-orig-size=\"800,620\" data-comments-opened=\"0\" 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=\"101018-WD-Arranges-$61M-in-Financing-for-Trophy-Retail-Development-in-DC (004) pdf &#8211; Adobe Acrobat Pro\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;The Shops at Dakota Crossing&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/10\/101018-WD-Arranges-61M-in-Financing-for-Trophy-Retail-Development-in-DC-004-pdf-Adobe-Acrobat-Pro.jpg?w=800\" class=\"wp-image-1004271245 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/10\/101018-WD-Arranges-61M-in-Financing-for-Trophy-Retail-Development-in-DC-004-pdf-Adobe-Acrobat-Pro.jpg\" alt=\"\" width=\"300\" height=\"233\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/10\/101018-WD-Arranges-61M-in-Financing-for-Trophy-Retail-Development-in-DC-004-pdf-Adobe-Acrobat-Pro.jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/10\/101018-WD-Arranges-61M-in-Financing-for-Trophy-Retail-Development-in-DC-004-pdf-Adobe-Acrobat-Pro.jpg?resize=300,233 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/10\/101018-WD-Arranges-61M-in-Financing-for-Trophy-Retail-Development-in-DC-004-pdf-Adobe-Acrobat-Pro.jpg?resize=768,595 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004271245\" class=\"wp-caption-text\">The Shops at Dakota Crossing<\/p><\/div>\n<p>A joint venture of Trammell Crow Co., Fort Lincoln New Town Corp. and CSG Urban Partners has secured $61 million in financing to recapitalize The Shops at Dakota Crossing, a retail center in Washington, D.C.<\/p>\n<p>Walker &amp; Dunlop arranged the loan, which will replace the existing construction capital stack with a stretch senior bridge loan, providing future funding based on additional leasing and capital costs.&nbsp;Managing Director Jamie Butler led the Structured Finance&nbsp;team.<\/p>\n<h2>Nearing full occupancy<\/h2>\n<p>Located along New York Avenue, The Shops at Dakota Crossing changed the neighborhood by meeting a need for retail options. The 140,000-square-foot property provides high visibility to both commuters and passing residents, leading to it being 98 percent preleased with a mix of tenants including the city&#8217;s first Costco, Dick&#8217;s Sporting Goods, PetSmart, Starbucks, Lowe&#8217;s, Marshalls and Chick-fil-A.&nbsp;<\/p>\n<p><em>\u201cOur process produced dozens of financing options for the client but what was interesting about the result was simply the diversity of capital sources\u2014all competing for the same proceeds at virtually the same economics,&#8221; <\/em>Butler told<em> Commercial Property Executive. &#8220;In fact, the most competitive quotes weren\u2019t from banks but rather from private equity, debt funds, domestic and foreign pension plans and retail REITs. This further confirms the widespread supply of competitive capital in the market and underscores the importance of casting a wide net when seeking financing on any project in the current environment.\u201d<\/em><\/p>\n<p>Last month,&nbsp;Walker &amp; Dunlop <a href=\"https:\/\/www.commercialsearch.com\/news\/miami-storage-facility-lands-10m-construction-loan\/\">structured $9.8 million in financing<\/a> for the construction of SpareSpace Storage in Miami.&nbsp;<\/p>\n<p><em>Image courtesy of Walker &amp; Dunlop<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Walker &amp; Dunlop arranged the loan for The Shops at Dakota Crossing, a 140,000-square-foot retail center. This will replace the existing construction capital stack with a stretch senior bridge loan. <\/p>\n","protected":false},"author":746,"featured_media":1004271245,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21825,11,21742,21749,1615],"tags":[41045,42434,42437,32893,34573],"class_list":["post-1004271185","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-finance","category-midatlantic","category-latest","category-retail","category-washington-dc","tag-csg-partners-llc","tag-fort-lincoln-new-town-corporation","tag-jamie-butler","tag-trammell-crow-company","tag-walker-and-dunlop"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>DC Retail Center Lands $61M Financing - 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\/dc-retail-center-lands-61m-financing\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"DC Retail Center Lands $61M Financing\" \/>\n<meta property=\"og:description\" content=\"Walker &amp; Dunlop arranged the loan for The Shops at Dakota Crossing, a 140,000-square-foot retail center. This will replace the existing construction capital stack with a stretch senior bridge loan.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/dc-retail-center-lands-61m-financing\/\" \/>\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=\"2018-10-12T12:04:55+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T00:47:38+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/10\/101018-WD-Arranges-61M-in-Financing-for-Trophy-Retail-Development-in-DC-004-pdf-Adobe-Acrobat-Pro.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"620\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"IvyLee Rosario\" \/>\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\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/dc-retail-center-lands-61m-financing\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/dc-retail-center-lands-61m-financing\/\",\"name\":\"DC Retail Center Lands $61M Financing - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/dc-retail-center-lands-61m-financing\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/dc-retail-center-lands-61m-financing\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/10\/101018-WD-Arranges-61M-in-Financing-for-Trophy-Retail-Development-in-DC-004-pdf-Adobe-Acrobat-Pro.jpg\",\"datePublished\":\"2018-10-12T12:04:55+00:00\",\"dateModified\":\"2022-12-09T00:47:38+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/f2094ece0e063845f848c7f1c7b84780\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/dc-retail-center-lands-61m-financing\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/dc-retail-center-lands-61m-financing\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/dc-retail-center-lands-61m-financing\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/10\/101018-WD-Arranges-61M-in-Financing-for-Trophy-Retail-Development-in-DC-004-pdf-Adobe-Acrobat-Pro.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/10\/101018-WD-Arranges-61M-in-Financing-for-Trophy-Retail-Development-in-DC-004-pdf-Adobe-Acrobat-Pro.jpg\",\"width\":800,\"height\":620,\"caption\":\"The Shops at Dakota Crossing\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/dc-retail-center-lands-61m-financing\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.commercialsearch.com\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"DC Retail Center Lands $61M Financing\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/f2094ece0e063845f848c7f1c7b84780\",\"name\":\"IvyLee Rosario\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/05\/IvyLee_Rosario.jpg?w=67\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/05\/IvyLee_Rosario.jpg?w=67\",\"caption\":\"IvyLee Rosario\"},\"description\":\"IvyLee Rosario is a Senior Associate Editor for Commercial Property Executive and Multi-Housing News. 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