This just got in my box. [h/t Cityfeet]
A common complaint about the Troubled Asset Relief Program is that the
banks receiving funds under the government program were not doing what
they were supposed to do with the money--namely lend it out. A recent
refinance of a local office building, though, is one of the exceptions,
according to Cassidy & Pinkard Colliers' Jon Goldstein, who was
part of a team that arranged the transaction.
Goldstein, along with Philip Mudd and Christian Miles, arranged a $15.8 million refinancing with a Baltimore-based bank for Metro Executive Park I & II, located at 15800 and 15850 Crabbs Branch Way here. The building owner, BPG Properties, secured a three-year, floating rate loan for the three-story office buildings that total 123,799 square feet. The properties are 93% leased; BPG renovated the property in 2006 and 2007.
Goldstein, along with Philip Mudd and Christian Miles, arranged a $15.8 million refinancing with a Baltimore-based bank for Metro Executive Park I & II, located at 15800 and 15850 Crabbs Branch Way here. The building owner, BPG Properties, secured a three-year, floating rate loan for the three-story office buildings that total 123,799 square feet. The properties are 93% leased; BPG renovated the property in 2006 and 2007.
