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EagleBank Finances Patterson Mansion Deal

Following up our story yesterday on the sale of the historic Patterson Mansion on Dupont Circle: EagleBank arranged a $14.9M acquisition loan for buyer SB-Urban, says the bank's Tony Marquez. SB-Urban is expected to convert the building to “all studio microunits, something it's also got planned for the former Latham Hotel in Georgetown and a Blagden Alley site near the convention center (both of which it bought last year and deals EagleBank also provided financing for, Tony says). Expect the microunit trend to press on, Tony says, as younger renters will continue to eye smaller but high-end residential units.