$172.5M construction/mini-permanent loan arranged by HFF for three Maryland multifamily developments

WASHINGTON, D.C. – The Washington, D.C. and Dallas offices of HFF (Holliday Fenoglio Fowler, L.P.) have arranged a $172.5 million construction/mini-permanent loan for three multifamily developments totaling 1,134 units in Maryland.

HFF director Cary Abod (Washington, D.C. office),(top right photo) and executive managing director Jody Thornton (top left photo) and associate director John Ahmed (Dallas office) exclusively represented the borrower, Archstone, in the transaction. TIAA-CREF provided the 60-month loan.

Located within 15 miles of Washington, D.C., the properties include 451-unit Westchester at Contee Crossing (middle left photo) in Laurel, 192-unit Westchester Rockville Station (bottom right photo) in Rockville and 491-unit Westchester at the Pavilion in Waldorf. (bottom left photo)

“It was a real pleasure working with the TIAA team on this transaction. Despite an extremely challenging capital markets environment, they never waivered in their focus or in their commitment to this deal,” said Ahmed.

“This transaction exemplifies Archstone’s investment and development goal of bringing superior residential communities to high-demand markets throughout the country,” added Abod.

Archstone is a recognized leader in apartment investment and operations. The company’s portfolio is concentrated in the most desirable protected coastal markets including the Washington, D.C. metropolitan area, Los Angeles area, San Diego, San Francisco Bay area, New York metropolitan area, Seattle and Boston.

Archstone owns or operates over 92,000 units in the U.S. and Germany, including its development pipeline.

HFF (NYSE: HF) operates out of 18 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF offers clients a fully integrated national capital markets platform including debt placement, investment sales, structured finance, private equity, note sales and note sale advisory services and commercial loan servicing. http://www.hfflp.com/.

CONTACTS:

Cary Abod, HFF Director, 202 533 2500, cabod@hfflp.com

John Ahmed, HFF Associate Director, 214 265 0880, jahmed@hfflp.com

Laurie Fish McDowell, HFF Associate Director, Marketing, 617 338 0990, lmcdowell@hfflp.com