ARK Realty Capital Closes $58 Million Loan for Construction of Alexandria, VA Office Building.

BETHESDA, Md. -- ARK Realty Capital of Bethesda, MD today announced the closing of $58 million in non-recourse construction financing for Carlyle Overlook, a 250,000 square foot Class A office building under development in Alexandria, Virginia by MRP Realty, a commercial real estate development company founded by former Trammell Crow Company executives Bob Murphy, Fred Rothmeijer and Ryan Wade. MRP Realty's capital partner, Rockpoint Group L.L.C., is a global real estate and investment management firm with offices in Boston, Dallas, San Francisco, Frankfurt, London and Tokyo. Key Bank of Washington, D.C. provided the loan, which represents 75 percent of the project cost.

MRP Realty recently broke ground on the project, located adjacent to the Eisenhower Avenue Metrorail station and the U.S. Patent and Trademark Office campus. The building is expected to deliver in the first quarter 2008 and approximately half of the building's space will be occupied by The American Society of Clinical Oncology. The remaining space (top five floors of the building) containing approximately 125,000 square feet is available for lease.

"This transaction attracted significant interest from the lending community, allowing us to create a competitive scenario that enabled our client to structure its risk and still obtain great pricing," said Kevin H. Smith, President of ARK Realty Capital.

Founded by Smith in 2005, ARK Realty Capital specializes in providing creative and highly structured financing, partnering users and sources of funds across the entire capital spectrum. The firm has relationships with domestic and foreign funding sources including life insurance companies, conduits, banks, pension funds, REITs, and private capital sources. Since its founding, ARK Realty Capital has closed approximately $700 million in transactions.