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New Capitol District Project Gets $90M Construction Loan

Capital One just closed a $90M construction loan for Grosvenor Americas' F1RST in the Capitol Riverfront District. Capital One will hold $50M of the loan and syndicate $20M to United Bank and $20M to TD Bank, Multi-Housing News reports. F1RST, named for its location on First Street, will be a 300k SF community with a 13-story apartment building, 22k SF of residential space, and a 170-room Marriott. It will also have 32k SF of amenities, including a rooftop with a swimming pool, a resort-style hot tub, seating areas and outdoor kitchens. There will also be a fitness center, a lounge, a courtyard garden and a pet spa. [MHN]