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.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160928006328/en/
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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