Saturday, January 28, 2017

HFF secures $46.6 million financing for 7-property office portfolio in Washington, D.C.-area

Capital Office Park,  6301-6421 Ivy Lane, Greenbelt, MD

Cary Abod
WASHINGTON, D.C. –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has secured $46.6 million in financing for Capital Office Park, a seven-property office portfolio totaling 806,531 square feet in the Greenbelt, Maryland suburb of Washington, D.C.

HFF worked on behalf of the borrower, Morning Calm Management, to arrange the floating-rate acquisition financing through ACORE Capital, a leading commercial real estate finance company.   
The office park is situated at 6301-6421 Ivy Lane, about 11 miles northeast of Washington, D.C. near The Capital Beltway (Interstate 495) in Greenbelt.  The portfolio is currently 60 percent leased to a diverse mix of tenants, including Bozzuto & Associates, Whiting Turner, and the U.S. District Attorney’s Office.

 Morning Calm Management, who will be moving its primary office to Capital Office Park, has a successful track record of office repositionings throughout the United States. Morning Calm intends to inject substantial capital into the assets via the upgrading and modernization of lobbies, elevators, windows and amenity spaces.

These improvements will help the assets retain current tenants and attract additional tenants, and cement Capital Office Park’s position as the premier suburban D.C. corporate location. 

Michael Gigliotti
The HFF debt placement team representing the borrower was led by managing director Cary Abod and senior managing director Michael Gigliotti. 

“Morning Calm has made an impressive foray into the D.C. marketplace with their acquisition of Capital Office Park,” said Abod. 

“They have a clear, coherent plan for the portfolio that resonated with the lender community and generated an impressive amount of interest.  In addition, ACORE was remarkably effective in executing the financing on a condensed timeline.”

For a complete copy of the company’s news release, please contact:

Kristen M. Murphy
Director, Public Relations
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 |

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