PCCP, LLC Provides $23.2 Million Senior Loan Commitment for Acquisition and Re-Development...

PCCP, LLC Provides $23.2 Million Senior Loan Commitment for Acquisition and Re-Development Financing of Office Condominium in Washington, D.C.

WASHINGTON, D.C. – June 6, 2011 – (RealEstateRama) — PCCP, LLC has announced that it has provided a $23.2 million senior loan commitment for the acquisition and re?development financing of 2055 L Street, NW, a Class B+ office condominium located in the “Golden Triangle” of Washington D.C.’s CBD. The borrower/property owner is a joint venture between Monument Realty and Angelo Gordon & Co. which acquired the asset in December 2010. With this loan in place, the joint venture will now commence a six-month rehabilitation to the owned 102,000 square foot condominium office portion of the 237,000 square foot building.

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PCCP, LLC is a premier real estate private equity firm focused on commercial real estate debt and equity investments. PCCP has over $6 billion under management in multiple closed-end funds and joint ventures with institutional investors.  With 33 investment professionals and 55 employees across four offices located in New York, San Francisco, Sacramento and Los Angeles, PCCP invests throughout the United States.

Contact:

Los Angeles
222 N. Sepulveda Blvd.
Suite 2222
El Segundo, CA 90245

Phone: 310.414.7870
Fax: 310.414.7872

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