PRC Arranges $103.5 Million Financing for 1110 Vermont Avenue in Washington, D.C.

WASHINGTON Perseus Realty Capital, LLC (PRC), a real estate investment bank, announced that it has secured $103.5 million in financing for 1110 Vermont Avenue NW, a 309,480-SF, Class A office building in Washington, DC.

PRC Vice President, Lindsay Stroud, worked exclusively on behalf of the borrower, Perseus Realty, LLC, in arranging the three-year, fixed-rate loan. The 75% loan-to-cost financing is replacing an acquisition rehab loan and will provide funds until the asset is stabilized.

1110 Vermont Avenue NW, which was renovated in 2007, is 78% leased to 24 tenants, including WPP, one of the world’s largest advertising agencies, Streamsage (Comcast), a major regional cable company, and Tompkins Construction, one of the region’s top construction companies. Retail tenants include Starbucks and two premier restaurants: the world famous Il Mulino and Mio Restaurant. The property is centrally located on Vermont Avenue between McPherson Square and Thomas Circle with easy access to the Metro in the central business district of Washington, DC.

“1110 Vermont represents a safe haven for lenders allocating capital in these uncertain financial markets, a Class A office multi-tenanted building in the central business district of Washington, DC,” said Stroud. “Investors continue to view downtown Washington as the most stable real estate market in the country.”

About Perseus Realty, LLC

Perseus Realty, LLC is a private real estate firm specializing in commercial property investments and development of office and residential properties. Perseus Realty, formed in early 2004, is an affiliate of Perseus, LLC, a private equity firm based in Washington, DC. The company’s current portfolio of office and residential developments is exciting and encompasses projects in the District, Northern Virginia and Maryland. For more information, visit www.perseusrealty.com.

About PRC

PRC, founded in 2005, is a private real estate investment bank headquartered in Washington, DC focused on providing creative solutions for clients seeking to structure, capitalize or recapitalize real estate assets, including the placement of all forms of debt and equity capital. Principals of the firm have completed hundreds of transactions totaling more than $20 billion in value, and represent many of the country’s most innovative real estate developers, investors and owners. For more information, please visit www.perseusrealtycapital.com.

Source: Perseus Realty Capital, LLC (PRC)