May 26, 2017 Comments Off on Monday Refi’s Rosslyn Portfolio for $888M Views: 498 National News, Top National Stories, Virginia

Monday Refi’s Rosslyn Portfolio for $888M

New York-based Monday Properties completed an $888-million refinancing of its nine-building Rosslyn portfolio in Arlington, VA. The loan package was secured through an undisclosed institutional investor, and is backed by a portfolio totaling 2.6 million square feet, including The Towers at 1000 and 1100 Wilson Blvd.

Monday Properties and partner Goldman Sachs successfully removed one of the largest chunks of expiring CRE CMBS debts taken out before the recession. The refinancing package included retiring more than $700 million in expiring debt, as well as securing roughly $180 million for reinvestment in The Towers and capital improvements, such as a rooftop deck at 1100 Wilson Blvd.

The recent HQ relocation by Nestle to Monday Properties’ nearby 1812 N. Moore St. has helped increase tenant and investor interest in Rosslyn.

Trepp estimates there’s roughly $4.1 billion in debt slated to expire in the D.C. region over the coming year.

Read more at Washington Business Journal

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