Capital One announced that it served as sole lead agent, sole bookrunner, and administrative agent for a $110 million senior secured, nonrecourse bridge loan that will enable a property fund managed by Brookfield Asset Management to refinance 64 New York Avenue, a six-story office building in the NoMa/Capitol Hill submarket of Washington, D.C.
 
The sponsor is a repeat client of Capital One. “We are very proud of the close working relationship we have developed with Brookfield,” said Michael Sleece, Senior Vice President at Capital One. “We welcomed the opportunity to refinance this property, which is primarily leased to the DC Government under long-term leases.”
 
Brookfield Asset Management is a leading global alternative asset manager with over $100 billion of real estate investments and over $200 billion of assets under management, focused on property, infrastructure, renewable energy and private equity.
 
“The team at Capital One understands our business model and our commitment to improving the properties we purchase and realizing their potential value,” said Seamus Foran, Senior Vice President at Brookfield.  “It is refreshing to work with a lender that devotes itself to helping us achieve our goals.”
 
Capital One Bank’s Commercial Real Estate Group offers a comprehensive array of financing solutions for property owners and developers nationwide, including balance sheet and agency lending. Capital One Commercial Banking leverages a relationship-based banking model that seamlessly delivers an array of products and services including loans and deposit accounts, treasury management services, merchant services, investment banking, international services and correspondent banking.