Walker & Dunlop structured more than $91 million in financing for the acquisition of Bank of America Tower in Jacksonville, Florida, and 65 East State Street in Columbus, Ohio. Both properties are office buildings that help define their respective cities’ skyline.
Walker & Dunlop’s Adam Schwartz, Aaron Appel, Keith Kurland and Jonathan Schwartz as well as Michael Ianno, Sean Bastian and Ian Hawk arranged the financing package for longtime client Group RMC. Prime Finance was the lender for Bank of America Tower and Voya the lender for 65 East State Street. The pair of three-year, interest-only bridge loans were arranged with floating rates.
Both properties have undergone several millions of dollars in capital improvements.
65 East State Street is a 26-story high-rise office tower with about 494,487 rentable square feet. Located in the heart of Columbus, Ohio’s CBD, the institutional quality asset is directly across the street from the Ohio State Capital Building on Capital Square.