MRP Development Team Lands $178M Loan For Ballpark-Area Apartments

The development team behind two new apartment buildings near Nationals Park has landed over $175M in two refinancing deals.
MRP Realty and Florida Rock Properties reached deals for a $92M loan for the Dock 79 building and an $88M loan for The Maren, FRP revealed Friday in an investor filing. MRP Managing Principal Bob Murphy confirmed to Bisnow that the loans have closed, and he said Nuveen Real Estate was the lender.
Dock 79, the 305-unit building at 79 Potomac Ave. SE, delivered in 2016. The $92M loan has a 12-year term and reduces the interest rate to 3.03% from the previous loan of 4.125%, according…

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