HFF places $14.475 million loan on Dupont Circle office building in Washington, D.C.
WASHINGTON, D.C. – April 14, 2015 – HFF announced today that it has placed $14.475 million in financing for 1509 16th Street NW, a 32,000-square-foot office building in Washington, D.C.’s Dupont Circle.
HFF worked on behalf of the borrower, MRP Realty and UberOffices, to secure the 10-year, fixed-rate loan through First National Bank. Loan proceeds were used to acquire the building and fund renovation/lease-up costs.
1509 16th Street NW is situated in downtown Washington, D.C. about eight blocks from the White House and four blocks from The Dupont Circle Metro station. Originally built in 1909, the building will be fully renovated by early 2016 for owner/user UberOffices, which will occupy the entire building.
The HFF debt placement team representing the borrower was led by director Dan McIntyre.
About MidAtlantic Realty Partners, LLC
Founded in 2005, MidAtlantic Realty Partners, LLC (“MRP Realty”), is a real estate operating company focused on opportunistic and value-add investments in the Washington, DC, metropolitan area. For more information, please visit MRPRealty.com.
UberOffices was founded with a mission to create a platform of useful solutions to the everyday entrepreneur. The first step is to make finding and leasing office space flexible, affordable, and pain-free. For more information, please visit UberOffices.com.
HFF (Holliday Fenoglio Fowler, L.P.) 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.