GE's Monument loan.GE Real Estate announced it provided a fixed rate $58.6 million loan to MGP (Monochrome Graphics Printer port) A display adapter that employs Hercules Graphics and a parallel printer port on the same expansion board. Real Estate, partnering with The Praedium Group, for its acquisition of Monument III, a newly constructed, 193 million s/f Class "A" office building in Northern Virginia Northern Virginia (NoVA) consists of Arlington, Fairfax, Loudoun, and Prince William counties and the independent cities of Alexandria, Falls Church, Fairfax, Manassas, and Manassas Park. . Monument III is located in the Dulles Corridor, surrounded by Fortune 500 companies, several corporate headquarters and numerous local, national and international corporations. The Praedium Group will act as managing member of the borrower entity while MGP will control day-to-day operations of the property. While currently vacant, the property was 28.5% leased at closing as DRS Technologies DRS Technologies, Inc. (commonly known as DRS; formerly known as Diagnostic/Retrieval Systems, Inc.) is a supplier of defense electronic products and systems to the United States Air Force, Army, Coast Guard, Marine Corps, Navy, aerospace and defense prime recently leased 55,000 s/f of space. Dan Martin, regional director, North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. Lending at GE Real Estate, said "The location and growing economic market in the region places Monument III in a prime position for success in both the short and long term. "The local economy boasts a highly educated workforce, high per capita income Noun 1. per capita income - the total national income divided by the number of people in the nation income - the financial gain (earned or unearned) accruing over a given period of time and strong demographic trends, and we believe this is an ideal site for investment." |
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