The Mortgage Bankers Association (MBA) has officially closed on the purchase of its new home at 1331 L St., NW in Washington, D.C.
Holliday Fenoglio Fowler was exclusively engaged by MBA to explore a wide variety of financing structures, and a very favorably priced bond issuance was the best choice, according to the MBA. PNC Bank provided the letter of credit facility to credit-enhance the bonds, and Wells Fargo, Chevy Chase and Virginia Commerce Bank participated in the facility. PNC Capital Markets handled the marketing of the bonds.
The building has been pre-certified by the U.S. Green Building Council at the LEED (Leadership in Energy and Environmental Design) Gold level for the core and shell and Silver for the interior.
With construction nearing its finish, leasing activity for the new building has picked up considerably in recent weeks. There are currently a number of inquiries being considered for office and retail spaces in the building, the MBA reports. The organization plans to occupy floors two through five of the 10-story downtown building.
Source: Mortgage Bankers Association
