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Washington DC  + DC  + Retail  |  May 26, 2021
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By: David Cohen

EagleBank Provides $26M Acquisition Loan for D.C. Retail Property

Washington D.C.-based community bank EagleBank has provided a $26 million acquisition loan to support the revitalization of Mazza Gallerie, a historic retail space in the Friendship Heights neighborhood of D.C.

Mazza Gallerie is situated in the established Wisconsin Ave. retail corridor and is immediately adjacent to the Friendship Heights metro rail station. The property consists of 440,000 square feet of shops and restaurants. Real estate developer and owner Tishman Speyer is the recipient of the loan and will spearhead redevelopment of the property.

EagleBank’s financing will fund a significant portion of the project’s purchase price and will allow Tishman Speyer to construct approximately 350 multifamily units and 26,000 square feet of ground-floor retail. Barb Mackin, Sameera Rizvi and Jeniffer Mejia of EagleBank arranged the financing on behalf of Tishman Speyer.

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Tishman SpeyerEagleBank’s Mackin

About David Cohen

David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector. Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA. David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.
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