Daily News: January 23, 2014

Capital One Provides $22.7MM Term Loan to White Provision

Capital One Bank announced it provided a $22.7 million, three-year term loan to White Provision Redevelopment, L.P., an entity owned by Jamestown Co-Invest 4, L.P., a real estate investment and management company. The loan will be used to refinance existing debt secured by White Provision, a mixed-use historic rehabilitation project.

White Provision is a two-story property located in Atlanta, Georgia that features 95 condo units and 49,000 square feet of office space, along with 110,000 square feet of retail space and 12,000 square feet of storage and basement space. The building was originally built in 1910, and served as the first large-scale meat packing plant in the South. White Provision began its revival in 2006 when Jamestown began executing the adaptive reuse of the original warehouse structure and adding a modern, industrial-inspired residential building.

“Capital One Bank was able to provide the financing options needed for one of our most iconic assets,” said Shak Presswala, head of Capital Markets, Jamestown. “Their industry-leading expertise and commitment to quality serves us well as we continue to grow.”

“We are pleased to work with Jamestown as they refinance this historic property,” said Ben Stacks, Greater New York Market manager, Capital One Bank Commercial Real Estate. “Jamestown is a leader in the commercial real estate market, and we look forward to further building our relationship with them.”