Sussex Commons I & II, the 556-unit class A garden apartment complex at 6050 Edgeware Lane in Alexandria, VA, is under contract to be sold. This according to Trepp, the New York-based commercial mortgage information provider, which reports that the $102.6 million loan on the asset has been granted a maturity extension through October to accomodate the sale. That loan was originally scheduled to be paid off in January when the asset sold, but the buyer's financial has yet to...
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Saul Centers has substituted the White Oak shopping center in Silver Spring, MD for Van Ness Square in Washington, D.C. as collateral for one of its existing mortgage loans, allowing the Company to analyze the feasibility of repositioning Van Ness Square. The terms of the loan are unchanged. In conjunction with the collateral substitution, Saul Centers borrowed an additional $10.5 million at a 4.9 percent interest rate and 25-year principal maturing a...
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