EagleBank Provides Financing to Mamie D. Lee LLC to Support Improvements for Public Charter Schools

Core Viewpoint - EagleBank has provided a loan to Mamie D. Lee LLC to refinance the New Markets Tax Credit structure used for renovating a former D.C. Public School building, supporting local charter schools in the Washington, D.C. area [1][2]. Company Overview - EagleBank is one of the largest community banks in the Washington, D.C. area, headquartered in Bethesda, Maryland, and has been operational since 1998 [6]. - The bank focuses on building relationships with businesses, professionals, and individuals in its marketplace, conducting full-service commercial banking through 12 offices [6]. Transaction Details - The loan to Mamie D. Lee LLC was facilitated by EagleBank's Commercial and Industrial (C&I) team, highlighting the bank's active role in the charter school sector [2]. - Key personnel involved in the transaction include Jonathan Beall, Harvey L. Warnick, Jr., Karen McCadden, and Isaac Abebayeu [2]. Impact on Education - The refinancing will enable Bridges and Briya Public Charter Schools to access additional funds to support educational programming for families in the District [3]. - Both charter schools have a long history of serving students in Washington, D.C., with Bridges being recognized as an EmpowerK12 "Bold School" and Briya achieving Tier 1 status from the DC Public Charter School Board [4]. Property Background - The Mamie D. Lee Campus, originally constructed in 1967 for special-needs children, is being redeveloped to provide a full spectrum of educational programming from early childhood to adulthood [5].