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Bank of Georgetown Makes History

Bank of Georgetown is known for its commercial real estate financing, often assisting with historic property redevelopment. Currently, the community bank is extending $10M for The Maples at 619 D St SE (shown here with Altus Realty principal Charles Kehler, along with Bank of Georgetown commercial loan officer Martin McCarthy, chief credit officer Jim Hedderly, and commercial real estate manager Rich Bernardi). Built in 1796, it served as a private residence, then as a hospital for soldiers during the War of 1812 and was later purchased by Francis Scott Key. Altus Realty is redeveloping it into 20 luxury residential units, ranging from one-bedroom lofts to newly constructed, five-bedroom row houses. Almost 12k SF of new space is being added to the existing structure. Additionally, the Argos Group received a $7M loan to redevelop 3050 R St NW— formerly a home for the blind and then a foster children’s home until 2005. The property was converted into 15 condo units totaling over 23k SF. For more info on our sponsor, click here.