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Promenade Refi'd

WASHINGTON DC 02.09.2017

SIXTH ANNUAL DC REGION AFFORDABLE HOUSING

The Future of HUD, Finance, Development and More Under a New Administration

Buwa Binitie -- Dantes Partners
David Godschalk -- Telesis
Bo Menkiti -- The Menkiti Group
Promenade Refi'd

Promenade9

Judging by the star in this pic, Cousin Properties' Promenade is now granting wishes. And the company must have wished for a cash infusion. The building helped fuel Cousins  $1.1B purchase of 777 Main St and Greenway Plaza in Texas. The company reported that it refinanced the 774k SF tower with a $114M, nine-year fixed loan. Cousins bought the Midtown tower in 2011 for $135M and has since chiseled away at the vacancy, most recently with Frazer & Deeter, which  inked a 96k SF deal there (which we first reported here).