Newark, N.J.-based Prudential Mortgage Capital Co. has closed a $106.5 million loan for The Rockefeller Group on behalf of Prudential's general account.
The seven-year loan provides financing for 1101 K Street, a 292,000 square-foot, 10-story Class A office building in Washington, D.C. The building includes a rooftop terrace, a fitness center and an upscale restaurant on the ground floor. Cary Abod of Holiday Fenoglio Fowler arranged the financing.
Bryan McDonnell, a principal with Prudential Mortgage Capital who was involved with the transaction, describes Washington, D.C.'s office market has having ’emerged in good shape’ from the financial crisis. Prudential Mortgage Capital will service the loan.
