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...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.