NEW YORK – Capital One Bank today announced it has provided a $53 million, five-year term loan to institutional investors advised by J.P. Morgan Asset Management – Global Real Assets. The loan was used tothe acquisition of the Onyx on First apartment building in Washington, D.C. Completed in 2009, the property has 266 units in D.C.’s Navy Yard District.
The Onyx on First building features a 360-degree rooftop terrace and pool, with other amenities including a state-of-the-art fitness center, a resident clubroom, a courtyard and a four-level secured entrance parking garage. The building has a 24-hour concierge desk, controlled-access entries and easy access to the Navy Yard Metro Station, which is located one block away.
“We are pleased to help J.P. Morgan Asset Management’s clients acquire Onyx on First, a state-of-the-art, full-service community in a vibrant neighborhood,” said James Partridge, Senior Vice President, Commercial Real Estate, Capital One Bank. “We look forward to building our relationship with them as they continue to expand their portfolio across the country.”
“Capital One Bank showed great flexibility in the financing, helping us complete this purchase on a timely basis,” said Mike Kelly, Head of Debt Capital Markets at J.P. Morgan Asset Management. “Onyx on First is a premier property in an area with strong growth potential, and fits well in our client’s investment portfolio.”
Capital One Bank’s Commercial Real Estate Group provides financing in markets including New York; New Jersey; Massachusetts; Pennsylvania; Washington, D.C.; Virginia; Maryland; Texas; and Louisiana. The group offers a comprehensive array of solutions for property owners and developers, including commercial lending, financing, underwriting, and treasury management. About Capital One Capital One www.capitalone.com) is a financial holding company whose subsidiaries, which include Capital One, N.A., and Capital One Bank (USA), N. A., had $212.4 billion in deposits and $300.2 billion in total assets as of March 31, 2013. Headquartered in McLean, Virginia, Capital One offers a broad spectrum of financial products and services to consumers, small businesses and commercial clients through a variety of channels. Capital One, N.A. has more than 900 branch locations primarily in New York, New Jersey, Texas, Louisiana, Maryland, Virginia and the District of Columbia. A Fortune 500 company, Capital One trades on the New York Stock Exchange under the symbol "COF" and is included in the S&P 100 index.Corporation (
About J.P. Morgan Asset Management - Global Real Assets J.P. Morgan Asset Management – Global Real Assets has approximately $66.7 billion in assets under management and more than 400 professionals in the U.S., Europe and Asia, as of March 31, 2013. With a 40-plus-year history of successful investing, J.P. Morgan Asset Management – Global Real Assets’ broad capabilities provide many of the world’s most sophisticated investors with a global platform of real estate, infrastructure, maritime/transport and energy strategies driven by local investment talent with disciplined investment processes consistently implemented across asset types and regions.