July 15, 2010
Kelley Drye represented a joint venture between Washington, DC-based MidAtlantic Realty Partners and The Rockpoint Group, headquartered in Dallas, Texas, in the negotiation of a $160 million mortgage loan from Metropolitan Life Insurance Company. The financing closed on July 1, 2010.
The buyers purchased the Washington Harbour complex in the Georgetown section of Washington, D.C. in an all-cash deal in early June. Kelley Drye negotiated and closed the financing transaction in less than two weeks, ensuring a favorable transfer and recordation tax treatment under District of Columbia law.
The well-known waterfront property encompasses two towers and houses over 530,000 square feet of office and retail space, including Kelley Drye's Washington D.C. offices.
Kelley Drye partner Joe Hoffman and associate Aaron Rosenfeld represented MidAtlantic Realty Partners and Rockpoint Group in this real estate financing transaction.