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Press Release
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Contact: Nick Derasmo (212.841.7505) |
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SONNENBLICK-GOLDMAN ARRANGES $15 MILLION ACQUISITION FINANCING IN DOWNTOWN WASHINGTON, D.C |
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Thursday, January 03, 2002
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New York, NY
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Sonnenblick-Goldman Company, acting as exclusive financial advisor to Seaton Benkowski & Partners, Akridge Real Estate Services, and EdwardsDay Property Investments, has arranged $15 million of financing for the acquisition of 1100 15th Street, N.W., a class-A office building in the downtown business district of Washington, D.C. The 20-year first mortgage was provided by a California-based pension fund.
“The property typifies what most active lenders and investors are looking for in an investment property: prime location, impressive tenancy, strong market fundamentals and an attractive purchase price,” says Steven Kohn, president of Sonnenblick-Goldman Company.
Built in 1982, the 12-story, 136,893 square-foot, institutional quality office building is 100% leased to several quality tenants, including The Washington Post Company, Pharmaceutical Research & Manufacturers of America, Allegiance Telecom, and the Washington Baltimore Newspaper Guild. The property is subject to a 39-year ground lease.
“The building attracted interest from a myriad of financial institutions because of the high quality of the asset and the ownership,” comments Victor Wang, vice president of Sonnenblick-Goldman. |
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Sonnenblick-Goldman, LLC is the industry’s leading independent real estate investment banking firm. Founded in 1893 to serve the financing needs of the real estate industry, Sonnenblick-Goldman, LLC provides a full range of financial services, including debt and equity placements, joint ventures, investment sales and advisory services. Headquartered in New York, Sonnenblick-Goldman maintains offices in San Francisco, Boston, Hong Kong, Shanghai, Sydney and Tokyo. Further information can be found at Sonnenblick-Goldman, LLC’s website at www.cushwake.com/sonngold.
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