HFF arranges refinancing for Jefferson Plaza in Arlington, Virginia
WASHINGTON, D.C. – September 28, 2016 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has arranged refinancing for Jefferson Plaza, a 270,286-square-foot office building located at 1401 S. Clark Street 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 Square Mile Capital. Loan proceeds will be used to retire existing financing that HFF secured in 2013, and provide good news funding for lease-up.
With common areas renovated in 2013 and 2016, Jefferson Plaza is an institutional-quality office building in Crystal City offering tenants a full amenity package including a fitness center, conference center and on-site café. Located in the heart of Crystal City, Jefferson Plaza 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.
“As the Crystal City submarket continues to recover from BRAC and sequestration, Jefferson Plaza is positioned to benefit from increased leasing velocity,” said Abod. “Jefferson Plaza offers tenants first-class build-outs and best-in-class amenities at competitive rates.”
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: www.loweenterprises.com.
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.