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Mack Real Estate provides $73M refinancing for Washington, DC, asset

Meadow Partners and Trammell Crow Co.'s High Street Residential subsidiary obtained a $72.6 million mortgage loan from Mack Real Estate Credit Strategies to refinance their multifamily development in Washington, D.C., Commercial Observer reported.

The new financing replaces previous construction debt on the 221-unit Valo Apartments project at the corner of M Street SW and Delaware Avenue SW. The funds will also support the asset's leasing and stabilization, the Jan. 7 report added.

Spokespeople at Meadow Partners and Trammell Crow could not be immediately reached for comment on the deal, according to the publication.