HFF announces refinancing of King Street Metro Place in Alexandria, Virginia
WASHINGTON, D.C. – October 3, 2017 – Holliday Fenoglio Fowler, L.P. (HFF) announces the refinancing of King Street Metro Place, a 141,253-square-foot, Class A office building in Alexandria, Virginia.
The HFF team represented the borrower, Stockbridge, in securing the floating-rate bank financing.
King Street Metro Place is located at 1737 King Street adjacent to the King Street Metro station in Old Town Alexandria. The 1.53-acre site offers tenants convenient multi-modal transit via Metrorail; the region’s primary commuter thoroughfares such as the Capital Beltway (I-95/495), Interstate 395 and Route 1; as well as walkable access to the robust amenity base in Alexandria that consists of more than 2.3 million square feet of retail space within a one mile radius and more than 500 retail stores, 100 plus restaurants and 3,000 plus hotel rooms. Additionally, the property is located just steps from the submarket’s largest employment centers and demand drivers, including the Patent and Trademark Office, the new headquarters of the National Science Foundation, and the U.S. District Court. King Street Metro Place underwent a recent renovation that included upgrades to the lobby and common areas as well as the addition of a fitness facility. The six-story property, which is currently 88 percent leased to 10 tenants, is part of a four-building mixed-use development that shares a common courtyard and parking garage with the adjacent Wyndham and Hilton hotels.
The HFF debt placement team representing the borrower included managing director Cary Abod and director Robert Carey.
Stockbridge is an independent real estate investment management firm led by veteran industry professionals. The firm’s portfolio comprises assets across the investment risk spectrum, including core, value-added and opportunistic strategies. Stockbridge and its affiliates have approximately $11.1 billion of assets under management (as of March 31, 2017) spanning all major real estate property types, and certain specialty property types, throughout the United States. Learn more at stockbridge.com.
HFF and its affiliates operate out of 24 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform including debt placement, investment sales, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. Holliday Fenoglio Fowler, L.P., HFF Real Estate Limited (collectively, “HFF”), HFF Securities L.P. and HFF Securities Limited (collectively, “HFFS”) are owned by HFF, Inc. (NYSE: HF). For more information please visit hfflp.com or follow HFF on Twitter @HFF.