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Bisnow Scoop: South Cathedral Mansions Loan

EagleBank has arranged a $48.9M acquisition and renovation loan for buyers CAS Riegler and Commonwealth Residential for their purchase of the South Cathedral Mansion in Woodley Park (which we reported on last week). The CAS Riegler/Commonwealth partnership will soon get started on renovations of the 1920s-vintage property, including the addition of up to 35 to 40 new units. EagleBank says it was proud to play a part in restoring the building "to its former glory while providing additional housing units in a very tight submarket."