BETHESDA, Md.--(BUSINESS WIRE)--ARK Realty Capital of Bethesda, MD today announced the closing of $58 million in non-recourse construction financing for Carlyle Overlook, a 250,000 square foot Class A office building under development in Alexandria, Virginia by MRP Realty, a commercial real estate development company founded by former Trammell Crow Company executives Bob Murphy, Fred Rothmeijer and Ryan Wade. MRP Realty's capital partner, Rockpoint Group L.L.C., is a global real estate and investment management firm with offices in Boston, Dallas, San Francisco, Frankfurt, London and Tokyo. Key Bank of Washington, D.C. provided the loan, which represents 75 percent of the project cost.

MRP Realty recently broke ground on the project, located adjacent to the Eisenhower Avenue Metrorail station and the U.S.

How Corrupt is UK Construction?

LONDON, October 16 -- 51% of UK construction professionals felt that corruption iscommonplace within the UK construction industry according to a survey by theChartered Institute of Building (CIOB).

Credit unions now offering SBA loans

Texas Trophies will be expanding this month, thanks to a construction loan from Security Service Federal Credit Union that was secured through the U.S. Small Business Administration.

San Antonio-based Security Service began offering small business loans in 1995, but it wasn't until just a few years ago that federal credit unions could offer SBA loans. Now, Security Service is an industry leader.

The owners of Texas Trophies — Lorraine and Jesse Pope — said their experience getting an SBA loan through Security Service was better than it was when they went through a conventional bank for an SBA loan to build their first shop in 1993.

Gov scored for exceeding authority

BAGUIO CITYÂ-A provincial councilor has asked a court here to stop the release of a P60-million loan the capitol secured with the Land Bank of the Philippines because it violated a resolution of the provincial board.

Mountain Province Councilor Marcial Lawilao Jr. asked the Regional Trial Court to void the P60-million loan agreement for the construction of the Bontoc commercial center because Gov. Maximo Dalog exceeded the authority the provincial board granted to him.

The loan agreement states that it was secured by Dalog in accordance with the authority vested upon him by Resolution 0313, dated July 18, 2005, but Lawilao claimed the governor was only authorized to borrow P30 million from the bank.

Â"The continuous spending of the proceeds of the loan or any portion thereof will work and result to and cause grave and irreparable damage and prejudice to the people of the province,Â" Lawilao Jr.

Bishops seek river protection

BUTUAN CITY -- Cagayan Archbishop Antonio Ledesma and three other Mindanao bishops signed a manifesto during the Environmental and Mining Forum here last Oct. 12 urging the national government to stop operations of controversial nickel mining in Tubay, Agusan del Norte.

Ledesma, vice-president of the influential Catholic Bishops Conference of the Philippines (CBCP), Melo Commission Member and Butuan Bishop Juan de Dios M. Pueblos, D.D, Surigao del Sur Bishop Nerio P. Odchimar, D.D., JCD of the Diocese of Tandag and Bishop Zacharias Jimenez, D.D., Auxiliary Bishop of the Diocese of Butuan and Agusans signed a manifesto for this purpose.

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Quicken loan firm plans site in Valley

The nation's largest online mortgage lender plans to create nearly 400 jobs in Arizona as it opens a division in north Scottsdale early next year.

Quicken Loans Inc. already has started hiring for the positions, which pay an average of more than $75,000 after one year, even though it hasn't yet finalized a site. The company plans to issue an announcement about its plans Monday.

Quicken Loans employs more than 3,700 people in suburban Detroit but wanted a Western operation to better serve customers in later time zones. .