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HFF Arranges Refinancing for 1400 Crystal Drive in Arlington, Virginia

2016-09-28 16:17 ET - News Release


Company Website: http://www.hfflp.com
WASHINGTON -- (Business Wire)

Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has arranged refinancing for 1400 Crystal Drive, a newly-renovated, 308,898-square-foot, trophy office building in the Crystal City submarket of Arlington, Virginia.

HFF worked on behalf of an affiliate of Lowe Enterprises Investors to place the floating-rate loan with KKR Financial. Loan proceeds will be used to retire existing financing that HFF secured in 2013, and provide good news funding for lease-up.

Renovated in 2013, 1400 Crystal is the premier office building in Crystal City offering 30’ x 30’ column spacing for open plan buildouts, and floor-to-ceiling glass providing expansive views of Washington, D.C. and the Potomac River. Tenants enjoy a full amenity package including a fitness center, rooftop terrace, conference center and a club room with flat screen TVs, a foosball table and various electronic games. Located in the heart of Crystal City, 1400 Crystal has direct access to the D.C. Metrorail system and is less than a half-mile from Ronald Reagan National Airport, two miles from the Pentagon, and less than three miles from downtown Washington, D.C.

The HFF debt placement team representing the borrower was led by managing director Cary Abod and associate director Robert Carey.

“The borrower has signed leases with 11 tenants since completing the renovation, including seven different association groups and a host of private-sector businesses,” said Abod. “Tenants have elected to lease at 1400 Crystal for the features that make it the top building in Crystal City: best-in-class tenant build-outs, unrivaled views and the array of amenities.”

About Lowe Enterprises Investors

Lowe Enterprises Investors (LEI) provides real estate investment management services on behalf of a select list of institutional and high net worth clients and partners through individually managed accounts, commingled fund relationships and targeted investment programs. The firm has been responsible for $7 billion in real estate assets, including commercial, hospitality and debt investments, since inception in the late 1980s. LEI has been a leading value-added investor through multiple cycles, employing equity and structured debt in its investment strategies. The firm is based in Los Angeles and is an affiliate of Lowe Enterprises, a national investment, development and management firm. Since inception in 1972, Lowe has acquired, developed or managed more than $24 billion of real estate assets. Lowe maintains additional regional offices in Southern California, Denver, Philadelphia, Seattle and Washington, DC. For more information about LEI, please visit: loweenterprises.com.

About HFF

HFF and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 23 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing. For more information please visit hfflp.com or follow HFF on Twitter @HFF.

Contacts:

HFF
Cary Abod, (202) 533-2500
HFF Managing Director
cabod@hfflp.com
or
Robert Carey, (202) 533-2500
HFF Associate Director
rcarey@hfflp.com
or
Kristen Murphy, (617) 338-0990
HFF Director, Marketing
krmurphy@hfflp.com

Source: HFF

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