Tenant: GSA – Social Security Administration
Loan Amount: $178,700,000
Loan Type: Construction / Permanent
Term: 20 years + 20-month construction period
Building Location: Baltimore, MD
Building Size: 538,000 SF +/-
Building Use: Social Security Administration Regional Headquarters and Office of Central Operations for the Baltimore Area.
- CTL Capital provided fixed rate construction/permanent credit lease financing for the Office of Central Operations for the Social Security Administration.
- The 11-acre project included two separate office towers with a shared, full height atrium and included surface parking in a separate, detached structured parking facility. The property sits adjacent to a metro commuter rail station.
- The buildings will be the Office of Central Operations for the SSA along with serving as the Regional Headquarters for the Baltimore Area Teleservices Center and the Teleservices, Disability, and Earnings and Wages divisions.
- CTL structured the loan with a fixed coupon for the entire construction and permanent period.
- CTL provided a substantial balloon at maturity in order to maximize the loan amount.