Magazine article Mortgage Banking

Jones Lang LaSalle Secures $108 Million Loan for New D.C. Building

Magazine article Mortgage Banking

Jones Lang LaSalle Secures $108 Million Loan for New D.C. Building

Article excerpt

Chicago-based Jones Lang LaSalle's (JLL's) Real Estate Investment Banking practice announced it has arranged a $107.6 million structured development and construction loan on behalf of the American College of Surgeons (ACS) for its new Washington, D.C., headquarters building.

The loan was provided by the Chicago-based Northern Trust Company's Chicago branch, while JLL's team members included Managing Director Martin Kamm, Vice President Stephanie Lynch and Associate Brandon Flickinger.

ACS' build-to-suit, 165,000-square-foot class-A office building, located at 20 F Street, N.W., will be a "jewel box" in the heart of Washington, D.C.'s Capitol Hill submarket, within walking distance of the nation's Capitol building, according to Lynch.

"Despite the unpredictable and erratic overall capital environment, Northern Trust delivered," said Lynch. "It is a testament to the focus and determination of both the bank and [ACS] in getting this deal done on time and without significant changes."

The ACS is a not-for-profit scientific and educational organization of surgeons that was founded in 1913 to raise the standards of surgical practice and to improve the care of the surgical patient. …

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