Hoffman-Madison Waterfront close on construction loan for $847 million

WASHINGTON, DC — Hoffman-Madison Waterfront (HMW), a joint venture of Hoffman & Associates (formerly PN Hoffman) and Madison Marquette, the co-developers of The Wharf, along with joint venture partner, Public Sector Pension Investment Board (PSP Investments), closed on one of the largest private construction loan in the city’s history in the amount of $847 million.
The Goldman Sachs Group, Inc., led the nonrecourse transaction, along with syndicate members Starwood Capital Group, Mack Real Estate Group and Pentagon Federal Credit Union.
“We are excited to welcome Goldman Sachs to the second phase of this vibrant waterfront community,” said Monty Hoffman, founder and CEO of Hoffman & Associates. “It’s been nearly two years since the delivery of Phase 1 of The Wharf and its success has led to continued confidence as we develop Phase 2.”
 

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