JLL Provides Meridian Group $50M Financing for DC Office Property
The Meridian Group has received $50 million in senior financing for EastBoro V, a 222,989-square-foot Class A office building in Tysons, Va.
JLL facilitated the five-year, floating-rate loan through a national bank, the lender’s first deal done in the D.C. metro.
“We continue to see attractive capital for well-leased office assets with credit quality and term, as evidenced by this execution, which was a new entrant to the market and a first-time relationship for our borrower,” Paul Spellman, JLL’s senior director of capital markets, said in a statement.
Located at 8251 Greensboro Drive, the property borders the Greensboro Metrorail station and is within walking distance of The Boro, Meridian’s 4.25 million-square-foot, mixed-use project featuring a 70,000-square-foot Whole Foods, numerous restaurants and bars, theaters and coffee shops.
The nine-story Eastboro V was completed in 1996 as a build-to-suit for Booz Allen Hamilton, which continues to occupy the entire facility as its global headquarters.
Joining Spellman on the deal were JLL’s Dan McIntyre, Rob Carey and Drake Greer.