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Natixis Finances $24.0 Million Floating-Rate Pre-Development Loan in Washington DC
Natixis provided a $24.0 million floating-rate, pre-development loan secured by an 11-story office building in the Capital Riverfront neighborhood of Washington, DC to Douglas Development, a repeat Natixis client. Douglas Development intends to transform the existing structure into a luxury rental multifamily property. The asset, located on the Anacostia River, enjoys sweeping views of the river and is steps away from the Washington Nationals Park and the DC United Stadium which is under construction for the local soccer team. Douglas Development is using the loan to pay off the existing debt and to provide additional time to finalize their plans to begin construction in 2017-2018. The planned renovation of the building contemplates approximately 415 rental units, 17,238 square feet of retail and parking.
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About Natixis
Natixis is a French multinational financial services firm specialized in asset & wealth management, corporate & investment banking, insurance and payments. A subsidiary of Groupe BPCE, the second-largest banking group in France through its two retail banking networks, Banque Populaire and Caisse d’Epargne, Natixis counts nearly 16,000 employees across 38 countries. Its clients include corporations, financial institutions, sovereign and supranational organizations, as well as the customers of Groupe BPCE’s networks. Listed on the Paris stock exchange, Natixis has a solid financial base with a CET1 capital under Basel 3(1) of €11.3 billion, a Basel 3 CET1 Ratio(1) of 11.4% and quality long-term ratings (Standard & Poor’s: A+ / Moody’s: A1 / Fitch Ratings: A+).
(1) Based on CRR-CRD4 rules as reported on June 26, 2013, including the Danish compromise - without phase-in
Figures as at 31 March 2020.
