Capital One Bank has provided a $96.3 million, seven-year term loan to Jamestown Premier 245 First, LLC. The loan will be used to finance the acquisition of Riverview, a commercial real estate property. Jamestown is a real estate investment and management company headquartered in Atlanta.
The Riverview property consists of two buildings located at 245 First St. in Kendall Sq. with a total of 300,000 s/f: an 18-story office tower that sits atop a 344-space parking garage; and Cambridge Science Center, a six-story, life science facility that was converted in 2004.
"Jamestown has become a close and valued client of ours, and we are pleased to help them acquire this premier property," said Ben Stacks, Greater New York market manager, Capital One Bank commercial real estate. "We look forward to supporting their future financing needs."
"Capital One Bank continues to present us with strong financing solutions that are tailored to our needs," said Shak Presswala, head of capital markets at Jamestown. "Their dedicated commercial real estate team provides exemplary service that will help us achieve our long-term goals."
Capital One Bank's commercial real estate group provides financing in markets including NY; NJ; MA; PA; Washington, D.C.; VA; MD; TX; and LA. The group offers a comprehensive array of solutions for property owners and developers, including commercial lending, financing, underwriting, and treasury management.
Capital One Financial Corp. is a financial holding company whose subsidiaries, which include Capital One, N.A., and Capital One Bank(USA), N. A., had $206.9 billion in deposits and $289.9 billion in total assets as of September 30, 2013. Headquartered in McLean, VA, Capital One offers a broad spectrum of financial products and services to consumers, small businesses and commercial clients through a variety of channels.