According to Richard Kessler, chief operating officer of Benenson Capital Partners, LLC, the company along with Louis Dreyfus Property Group have received $78.8 million in permanent financing from ING Real Estate Finance for the acquisition of 2001 Pennsylvania Ave., an office tower. The class A building was acquired in an all-cash transaction from Prudential in July. According to Richard Kessler, chief operating officer of Benenson Capital Partners.
"2001 Pennsylvania Ave. is a terrific property situated in one of the top sub-markets of Washington," said Kessler. "We are delighted to have acquired this property with our partner, and to now have attracted an excellent financing package from ING Real Estate Finance."
"We believe in the continued strength of the Washington office market, continued Jeffrey Sussman, president of Louis Dreyfus Property Group. "We are confident in the sustained success of this terrific asset."
2001 Pennsylvania Ave. is a fully leased, 11-story, 157,000 s/f office tower. Major tenants include Madison Realty Partners, LLC, Morrison & Foerster, LLP, and Cassidy & Pinkard Colliers. The property, designed by architects Skidmore Owings & Merrill, features substantial parking and other tenant amenities.
"Providing acquisition and interim financing for such a highly regarded JV sponsor and a fundamentally strong property in a robust market, fits squarely within our mandate," said David Mazujian, managing director and president of ING Real Estate Finance (USA) LLC, who also secured the loan. Tags: