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Douglas plans to invest $10 million towards upgrades.
99 percent leased. First Potomac assumed the $9 million of mortgage debt that encumbers the property. The debt is securitized via Bear Stearns Commercial Mortgage Securities Inc., 2004-PWR5. It carries a fixed-rate of 5.71 percent and matures in 2014.
complex at 721 S. Cherry Grove Ave. consists of 11 three-story buildings and one clubhouse on a 26-acre site
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