Clarion Lands $110M Loan Anchored By Skadden’s DC Base

Law360, New York (July 8, 2013, 4:19 PM EDT) -- Clarion Partners LLC has nabbed a $110.2 million loan from SunTrust Banks Inc. for a Washington, D.C., office building that serves as a base for Skadden Arps Slate Meagher & Flom LLP, a unit of broker CBRE Inc. said Monday.

Per the deal, Clarion secured a seven-year loan at a 3.5 percent interest rate, with an option to extend the financing package's maturity date another three years, according to the CBRE Capital Markets Group. The loan is anchored by 1440 New York Avenue NW, a Class...
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