The development team behind The Wharf has landed its second $800M-plus loan this year.
Hoffman-Madison Waterfront, a partnership of Hoffman & Associates, Madison Marquette and PSP Investments, announced Thursday it obtained an $847M construction loan for The Wharf’s second phase.
Goldman Sachs led the syndicate, along with Starwood Capital Group, Mack Real Estate Group and Pentagon Federal Credit Union. Eastdil Secured brokered the deal.
The team says it is the largest private construction loan in D.C.’s history. It comes just three months after The Wharf secured an $800M loan with a Wells Fargo-led syndicate to refinance the project’s first phase.
Click here to read the rest of the article written by Jon Banister over at Bis Now