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Promenade Refi'd

WASHINGTON DC 06.15.2017

MID-ATLANTIC HEALTHCARE REAL ESTATE FORUM

Development, Leasing, Design and the Impact of Regulatory Reform

Paula Crowley -- Anchor Health Properties
Gill Wylie -- Johns Hopkins Medical Management Corporation
Charles Weinstein -- ​Children's National Medical Center
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).