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SunTrust Bank’s division, Pillar, originated a $14 actor accommodation for the refinancing of The Potomac Plaza Apartments Cooperative, a 273-unit association amid in the Foggy Bottom adjacency of Washington, D.C. Pillar’s Vice President Cullen O’Grady originated the fixed-rate 30-year appellation Fannie Mae accommodating loan that has a 30-year acquittal schedule.
“Cooperative costs is actual adorable to Fannie Mae, as it presents a actual low-leverage accident opportunity. For the borrower, it allows payments advance over a 30-year term,” O’Grady said in able remarks. “The accommodation allows them to abide their basic renovations activity on this arresting and awfully amid property.”
Located at 2475 Virginia Ave. N.W., the mid-century residential architecture offers studios, one-, two- and three-bedroom attic affairs alignment from 642 to 1,612 aboveboard feet. At atomic 80 percent of the apartments are owner-occupied. Association amenities accommodate 24/7 aliment office, upgraded fettle centermost and laundry facilities, defended accumulator lockers for anniversary unit, association allowance and rooftop terrace. Additionally, the association additionally incorporates a blooming roof that helps blot rainwater, provides insulation and lowers burghal air temperatures.
The architecture is calmly amid two blocks abroad from the Foggy Bottom/George Washington University Metro Station, beyond from the celebrated Watergate Complex and Kennedy Centermost for The Performing Arts. Additionally, the acreage is in the around of George Washington University Hospital and Potomac Plaza.
Images address of potomacplaza.org
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