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PBS arranged a construction line of credit and mini-perm financing of $2,650,000 for a 25,000 square foot addition to an existing 60,000 square flex property leased to the Federal Bureau of Investigations. The project was completed on budget and converted to a fixed rate amortizing mortgage loan at no cost to the borrower.
PBS arranged a $15,375,000 fixed rate purchase money mortgage for this Drug Enforcement Agency design-build property consisting of 90,167 net rentable square feet. The property is a Class A office-flex building located in Lorton, Virginia. PBS worked closely with the buyer’s equity investors to assure a reasonable cash-on-cash return while achieving the lender’s return on equity target.
This 19,550 square foot office building was financed through a PBS arranged long-term participation financing of a mortgage loan with a local credit union for a total of $2,100,000. The property was built in 2002 and consists of 20 commercial suites and 66 parking spaces. This project is fully stabilized and aided the local credit union in maintaining a valued relationship with its member while also creating additional lending capacity for the borrower’s new projects.
PBS arranged the refinancing of a 95-key limited service Hampton Inn located in Manheim, PA. The hotel is located on Pennsylvania’s Interstate 76 toll highway that bisects the lower southern portion of the state. PBS located a local lead lender with which to participate in the loan after placing a $7,900,000 mortgage for a full-service Holiday Inn for the same borrower. Finding a local lead for participation allowed PBS’s member credit union to make both loans to the borrower without exceeding its legal lending limit.
This single-tenant net lease property was placed by PBS under a $1,500,000 purchase money mortgage. The project was acquired under a wealth management and retirement plan for the borrower’s family and was financed by one of PBS’s participating credit unions.
PBS arranged a $1,796,500 loan to finance the purchase and construction of a two-bay automated car wash. The .736 acre piece of property is located in the southwest suburbs of Norfolk, VA.
PBS arranged a $3,225,000 purchase money mortgage for the acquisition of two multi-tenanted buildings. The suburban office buildings consist of 41,250 net rentable square feet. The property is located in the city of Chesapeake just across from the Chesapeake Square Regional Mall.
PBS arranged a $4,000,000 line of credit to refinance existing debt and provide capital to negotiate and purchase other partner interests. This 5-story, 19,260 gross square foot building was constructed in 1924. There are a total of 10 units in the building including 3 retail and 7 office units. The building is in a prime location, just a block north of Dupont Circle. This property was featured in James Goode’s Best Addresses in the Washington Metropolitan Area.
PBS organized a $1,520,000 loan to refinance a commercial mortgage and to provide working capital for future real estate investments. This 5,400 square foot interior mixed-use building contains two retail units and one office unit. The property is located in the Woodside Village area of Silver Spring, MD.
PBS put together a $7,900,000 loan to refinance a 121-key full service Holiday Inn. The hotel sits on a 4.2 acre piece of land and includes approximately 300 parking spots. It is located off of Interstate 95 in Bensalem, a suburb of Philadelphia, PA.
PBS arranged a $3,486,000 loan to finance the sale of a 6-unit luxury condominium project. The building consists of 7,000 square feet of interior space, not including the garage, roof-top decks, and rooftop penthouse structures. It is located at the corner of Park Road and Hiatt Place in NW DC.
PBS arranged a $6,500,000 loan to refinance and provide tenant improvements on this 59,170 square foot multi-tenant building. The building is located in Bethesda, MD, one of the Washington Metropolitan Area’s most affluent suburbs.