XM Refinances Building Loan

XM Refinances Building Loan
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XM Satellite Radio has secured $33 million in financing for its Washington headquarters, replacing a floating rate loan with a long-term fixed-rate loan.
According to real estate Web site GlobeSt.com, CB Richard Ellis's banking division LJ Melody and Co. brokered the deal on behalf of building owner XM 1500 Eckington LLC, which acquired the property in 2001 for $34 million.
XM occupies about 150,000 square feet of the 250,000-square-foot space and leases out the rest. The building in the Northeast section of the District of Columbia used to house the Judd and Detweiler printing plant, which at one time printed National Geographic.

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