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| Washington Harbour, Georgetown submarket, Washington, DC |
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| Stephen Conley |
WASHINGTON, D.C. –– Holliday
Fenoglio Fowler, L.P. (HFF) announces the $415 million sale of Washington
Harbour, a 562,105-square-foot, world-renowned mixed-use project located
along the Potomac River in Washington, D.C.’s Georgetown submarket.
The
HFF team represented the seller, Principal Real Estate Investors, on behalf of
a consortium of South Korean investors.
Simone Investment and Hana Alternative Asset Management
acted as the managing members of the consortium.
Eyal Ofer’s Global
Holdings Group purchased the asset free and clear of existing debt.
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| Jim Meisel |
The
Arthur Cotton Moore-designed project consists of two freestanding, Class A
towers interspersed with a dynamic, experiential year-round retail and
entertainment destination.
A $50 million renovation in 2013 delivered new retail and
street-level experiences, including the addition of a fountain with
programmable light and water shows in the spring and summer, which transforms
into a 12,000-square-foot ice skating rink in the fall and winter months.
The project is
currently 98 percent leased to 31 tenants such as the law firms of Foley &
Lardner and Kelley Drye & Warren, as well as communications and advertising
firm GMMB Inc.
Major retail tenants
include restaurants such as Fiola Mare, Farmers Fishers Bakers, Bangkok Joe’s,
Sequoia, Tony & Joe’s Seafood Place and Nick’s Riverside Grill.
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| Andrew Weir |
The
HFF investment advisory team representing the seller included Stephen
Conley, Jim Meisel, Andrew Weir, Matt Nicholson and Dave Baker.
The
marketing effort was further supported by CEO Mark Gibson, HFF’s
national co-head of investment advisory Manny de Zárraga and HFF’s
Global Capital Team comprising Dan Cashdan, Riaz Cassum, Coleman Benedict
and Gerry Rohm.
Principal
Real Estate Investors manages or sub-advises $83.7 billion in commercial real
estate assets*. The firm’s real estate capabilities include both public
and private equity and debt investment alternatives.
Principal Real Estate Investors is a dedicated real estate
group of Principal Global Investors, a diversified asset management
organization and a member of the Principal Financial Group®.
*as of 30 June 2018
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| Mark Gibson |
Eyal Ofer’s Global Holdings Group
is a private real estate holding conglomerate that specializes—directly and
with strategic partners—in large-scale iconic office buildings, hotels and
luxury residential developments, as well as investment and development assets
in prime locations across North America, the United Kingdom and Europe.
Global’s current
portfolio consists of more than 10 million square feet of real estate,
comprising over 100 properties and approximately 2,500 hotel rooms.
Global’s New York City properties include Class A office
buildings such as 120 Park Avenue, 99 Park Avenue, 410 Park Avenue, 875 Third
Avenue, and Nomad Tower (1250 Broadway), and iconic residential developments
such as 15 Central Park West, the Greenwich Lane, 520 Park Avenue, 18 Gramercy
Park and 50 United Nations Plaza.
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| Manny de Zarraga |
More information regarding Global Holdings Group is
available at: https://www.globalholdings-mgmt.com/.
HFF and its affiliates operate out
of 26 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 advisory, equity placement, funds
marketing, M&A and corporate advisory, loan sales and loan servicing.
HFF, HFF Real Estate Limited, HFF Securities L.P. and
HFF Securities Limited are owned by HFF, Inc. (NYSE: HF). For more
information, please visit hfflp.comor follow HFF on Twitter @HFF.
For more
information, please contact:
KRISTEN MURPHY
HFF Director, Public Relations
(617) 338-0990
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