Press Release brought to you by HFF

$23.6 million financing for 3-building industrial park in Alexandria, Virginia, arranged by HFF

09/15/2015

WASHINGTON, D.C. – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has arranged $23.6 million in acquisition financing for a 100-percent-leased, three-building warehouse complex totaling 246,145 square feet within Pickett Industrial Park in Alexandria, Virginia.

Working on behalf of the borrower, an affiliate of JBG Core Venture I, L.P., HFF placed the 10-year, floating-rate loan with SunTrust Bank.  In June, HFF closed the sale of this asset to JBG Core Venture I, L.P., a programmatic joint venture between CBRE Global Investment Partners and The JBG Companies.

Situated on 10.84 acres at 841-929 South Pickett Street inside the Capital Beltway in Alexandria, Virginia, Pickett Industrial Park is less than a mile and a half from Interstate 395.  The Pentagon, Fort Belvoir and Reagan Washington National Airport are all less than 10 miles away from the property.  The one-story buildings have 24’ clear heights and a total of 34 dock-high loading doors with seven drive-ins.  The complex is 100 percent leased to six tenants, including General Services Administration, Commercial Carpets of America, Michael Baker Corporation and Habitat for Humanity of Northern Virginia.

The HFF debt placement team representing the borrower was led by Sue Carras, Walter Coker and Brian Crivella.

About CBRE Global Investment Partners
CBRE Global Investment Partners is the independent division of CBRE Global Investors that delivers investment solutions customized for clients’ individual objectives by constructing portfolios using private funds, secondaries, co-investments and joint ventures, partnering with leading operators and fund managers for each strategy. Strategies cover the risk spectrum from core to enhanced, can be global or regional in nature, and use a variety of investment vehicles based on clients' preferences.  GIP has $12.5 billion in assets under management as of September 30, 2014. CBRE Global Investment Partners’ AUM includes investments in programs managed by the direct side of CBRE Global Investors.

About The JBG Companies
Headquartered in Chevy Chase, Maryland, The JBG Companies is a private real estate investment firm that develops, owns and manages office, residential, hotel and retail properties.  The company has more than $10 billion in assets under management and development in the Washington, D.C. area.  Since 1960, JBG has been active in the areas where it invests, striving to positively impact local communities.  For more information, please visit www.JBG.com or find them on Twitter @TheJBGCompanies and Facebook (facebook.com/TheJBGCompanies).

About HFF
HFF and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF).  HFF operates out of 22 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.

09/15/2015 - 14:30

Source

HFF

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