PNC Bank Provides $92M Construction Loan for Luxury D.C. Multifamily

Carr Properties has secured $92 million of construction debt to build a 299-unit Class A multifamily complex in Downtown Washington, D.C., Commercial Observer can first report. PNC Bank provided the debt, structured with a five-year term and 20-year tax abatement, with United Bank also participating in the deal. Berkadia’s Brian Gould and Pat Cunningham arranged […]