Garrison Investment Group has secured a new $60 million loan from Deutsche Bank, The Wall Street Journal reports. The real-estate fund is seeking to use the proceeds to prevent its lenders from seizing four office buildings in Washington’s Virginia suburbs.
Lenders, led by Normandy Real Estate Partners, held a $107 million first mortgage on the properties and had been trying to foreclose it. New York-based Garrison Investment Group provided the remaining financing.
Click here for the story from The Wall Street Journal.