Douglas Development Corporation received a $75.5 million construction loan from Natixis Real Estate Capital for the redevelopment of Washington, D.C.’s Washington Coliseum, Commercial Observer has learned.
The financing will be used to fund about 67 percent of the Uline Arena redevelopment project in D.C.’s NoMa neighborhood. The Natixis loan features a three-year term with two one-year extension options.
The total project cost, “including land, soft and hard costs, leasing and financing,” is $112 million, Drew Turner, development and project manager at Douglas Development, told CO. Additional financing was provided through EB-5 capital and sponsorship equity, he said.
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