$32 million financing for newly-built Class A apartments in Washington, D.C. arranged by HFF
WASHINGTON, D.C. – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has arranged $32 million in financing for Kennedy Row, a 141-unit, Class A multi-housing property in Washington, D.C.’s Capitol Hill neighborhood.
HFF worked on behalf of the borrower, a joint venture between TRITEC Real Estate Company and The JBG Companies, to place the seven-year, floating-rate loan with HSBC Bank. Loan proceeds were used to refinance existing construction debt on the property.
Kennedy Row is located at 1717 East Capitol Street, SE across the street from the newly-renovated Eastern Senior High School and in close proximity to amenity-rich neighborhoods such as Capitol Hill, Eastern Market, H Street Corridor and Barracks Row. Completed in 2013, the property is 94 percent occupied and has a variety of studio, one- and two-bedroom units. Community amenities include a rooftop terrace with outdoor living and dining areas, on-site fitness center, pet cleaning station, bike storage, underground parking and immediate access to the metro.
The HFF debt placement team representing the borrower was led by Michael Gigliotti, Sue Carras, Walter Coker and Brian Crivella.
About TRITEC Real Estate Company
Founded in 1986, TRITEC Real Estate Company—comprising TRITEC Development Group, LLC, TRITEC Building Company, Inc., TRITEC Asset Management, Inc. and TRITEC Capital, LLC—has established itself as a leader among commercial real estate companies, with a long history of successfully acquiring, developing, constructing, financing, leasing and managing real estate projects in the New York and D.C. metro areas.
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.
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.