HFF Arranges Refinancing for 1400 Crystal Drive in Arlington, Virginia
September 28 2016 - 4:17PM
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.
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version on businesswire.com: http://www.businesswire.com/news/home/20160928006328/en/
HFFCary Abod, (202) 533-2500HFF Managing
Directorcabod@hfflp.comorRobert Carey, (202) 533-2500HFF
Associate Directorrcarey@hfflp.comorKristen Murphy, (617)
338-0990HFF Director, Marketingkrmurphy@hfflp.com
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