CBRE Capital Markets arranged a $212 million loan on behalf of Clarion Partners for Metro Park, a 1.15-million-sq.-ft. class-A office complex in Alexandria, Va.
SunTrust Bank and HSBC Credit Corp. provided funding for the loan, which features a rate of approximately 3 percent, a seven-year term and a 50 percent loan-to-value ratio.
Metro Park contains seven office buildings located on 37 acres of land. General Services Administration and some of the largest government contractors in the country occupy the complex.
“Despite the headlines about the fiscal cliff and sequestration, we received interest from both banks and life companies,” said Joe Donato, executive vice president of CBRE, in a statement. “Clarion Partners has done a tremendous job creating the premier office park in Northern Virginia and the quality of this portfolio, combined with a low leverage request from a top tier borrow, resulted in favorable financing terms.”
