Square Mile Capital Management LLC today announced that it has originated a $211.2 million loan secured by 1331 Maryland, a 373-unit luxury multifamily building located in Southwest Washington, D.C.

The loan was made to affiliates of The Republic Family of Companies, led by Richard Kramer and Steven Grigg, who commenced construction of the Robert A.M. Stern Architects designed building in 2017 and delivered the property in August 2019.

The financing was arranged by David Webb of CBRE’s Washington, D.C. office.

Square Mile Capital Principal Eric Cohensaid, “Republic has developed a best-in-class rental asset at 1331 Maryland. The property features what are arguably the highest-quality finishes and amenities for any multifamily building in the District. It is no surprise that the property has performed very well so far despite adverse macroeconomic conditions, and we are thrilled to add it to our loan portfolio.”

1331 Maryland features a Sky Terrace overlooking the National Mall and Potomac River, outdoor living rooms with grilling stations, an infinity pool overlooking the Tidal Basin, a state-of-the-art fitness center, and a 24/7 doorman and concierge service.

The property is situated two blocks south of the National Mall and directly adjacent to the Potomac River. Tenants enjoy easy access to I-395, Rock Creek Parkway and the GW Parkway, and the Yellow Line metro is less than a 10-minute walk away. Additionally, the property is 1,600 feet from the Jefferson Memorial and convenient walking distance from The Wharf, a $2.5 billion mixed-use development.

About Square Mile Capital Management LLC

Square Mile Capital Management LLC is an integrated institutional real estate and investment management firm based in New York. The firm’s commercial real estate debt platform provides customized capital solutions for real estate owners and developers throughout the United States. Square Mile Capital’s equity platform serves as a partner of choice for opportunistic and value add real estate investments across all property types. By identifying the impact of long-term trends on real estate values, the firm focuses on key investment themes and investment structuring in order to maximize risk-adjusted investment returns. For more information, visit www.squaremilecapital.com.

About Republic Properties Corporation

Republic Properties Corporation, a division of the Republic Family of Companies along with its affiliates Republic Land Development LLC and Republic Urban Properties LLC, represents a privately owned, full-service real estate investment, management and development enterprise based in Washington, D.C. For over 30 years, Republic and each of its principals have focused on institutional quality real estate, actively managing partnerships and other fiduciary relationships that result in successful real estate investments throughout the United States. Republic’s senior management team has over 150 years of combined experience and has successfully developed and invested in real estate transactions valued in excess of $7 billion. www.RepublicFamilyofCompanies.com