Saturday, May 18, 2019

HFF closes $228 million sale and arranges $127 million financing of Meridian at Pentagon City in Arlington, VA

Meridian at Pentagon City Apartments
1221 and 1331 South Eads Street,  Arlington, VA

WASHINGTON, D.C. – May 14, 2019 – Holliday Fenoglio Fowler, L.P. (HFF) announces it has closed the $228 million sale and $126.9 million financing of Meridian at Pentagon City, a 534-unit, two-tower multi-housing property in Arlington, Virginia.

Walter Coker
HFF marketed the property exclusively on behalf of the seller, a joint venture between Paradigm and a fund advised by the UBS Asset Management Real Estate & Private Markets – U.S., and procured the buyer, a joint venture between Polinger Development Co. and an unidentified institutional investor. 

 In addition, HFF worked on the new owner’s behalf to arrange fixed-rate acquisition financing through MetLife Investment Management.

Meridian at Pentagon City is located at 1221 and 1331 S. Eads Street adjacent to Amazon’s forthcoming 4.1 million-square-foot headquarters office. 

 In addition, the 95-percent-leased property is walkable to metro service and the Pentagon and is across the street from a Whole Foods Market and within a one-mile radius of an additional 1.9 million square feet of retail.  

Brian Crivella
The property consists of two high-rise towers encompassing a mix of studio, one- and two-bedroom units averaging 846 square feet as well as two parking garages totaling 524 spaces.  

In addition to its premier location and spacious units, the property also features two rooftop pools, two expansive outside terraces with grilling areas, an 18th-floor clubroom with views of the Capitol, a fitness facility, dog park, clubroom with gaming area, business center, guest suite accommodations, concierge service and a 24-hour front desk.

The HFF investment advisory team included Walter Coker, Brian Crivella, Stephen Conley and Matthew Lawton.

HFF’s debt placement team was led by Jamie Leachman.

Stephen Conley

About Paradigm

Paradigm was formed in 1991 and is headquartered in Arlington, Virginia. 

 Paradigm has developed over 10,000 apartment units and currently manages over 7,000 apartment units with a preponderance of these units being luxury mid- and high-rise units, most of which are in the Metro Washington, D.C. area. 

 Paradigm’s business strategy has fundamentally been to provide excellent customer service to its residents while enhancing the value of the assets for its owners/institutions.

Jamie Leachman

About Polinger Development

Polinger Development is an affiliate of Polinger Company, a fully integrated real estate organization that creates exceptional value for its investors and equity partners, while providing high-quality life/work environments for residents and corporate tenants. 

 Polinger Company has 70 years of experience in residential and commercial real estate in the Washington, D.C., Maryland and Virginia area.

 The company specializes in acquisitions/development, construction services, and residential and commercial management. 

 For more info, please visit

Matthew Lawton


VA Lic. #0225092459
HFF Managing Director
(202) 533-2500

VA Lic. #0225188521
HFF Senior Director
(202) 533-2500

HFF Senior Director
(202) 533-2524

HFF Public Relations Specialist
(713) 852-3403

Easton & Associates Lands Tenant for 65,000 SF Preconstruction Project in Hialeah Gardens, FL

Jose “Pepi” Cancio, Jr.
DORAL, FL – Before a foundation had been poured or walls erected, Easton & Associates landed a tenant for a new industrial development set to break ground in Hialeah Gardens fronting the Florida Turnpike.  The location is 14600 NW 112 Avenue.

 Interglass Corporation, a Miami-based tempered-glass distributor and fabricator, signed a deal to move its manufacturing operation to the 65,500 square-foot building that is being developed by Medley-based CanPen Holdings. 

This is the first development project for CanPen, a newly formed company whose principals are—Jose “Pepi” Cancio, Jr. and Mario Penzo.

 Easton & Associates President Jose Hernandez-Solaun represented both the landlord and tenant, who signed a 25-year lease.  Interglass is leasing the entire building. 

 “Being our first project, it was very comforting to know that we had a long-term quality tenant lined prior to the walls going up,” said Penzo.  “Easton & Associates has strong relationships with end users of warehouse/industrial space and was able to put together a deal very quickly.”

 Jose Hernandez-Solaun 
 As this building moves forward, Hernandez-Solaun said CanPen already has its eye on developing a separate parcel in Hialeah Gardens with a small-bay warehouse project designed for 26 bays that 2,800 square feet each.  Easton has been tapped to lease that property as well.

 “Despite the high demand for small-bay space, there has been no significant new product delivered to the market recently due to high cost of land and construction,” said Hernandez- Solaun. 

 “Our client had the foresight to purchase the land some time ago and the ability to deliver a great product.”   


Todd Templin
Executive Vice President
O 954-370-8999
C 954-290-0810
Bank of America Plaza | 1776 N Pine Island Rd
Suite 320 | Fort Lauderdale, FL 33322

Related Companies Hosts Palm Beach, FL Business Community for Groundbreaking of 360 Rosemary

Rendering of 360 Rosemary, West Palm Beach, FL 
(courtesy West Palm Beach

Mayor Keith James
WEST PALM BEACH, FL– West Palm Beach Mayor Keith James and the Downtown West Palm Beach business community joined Related Companies to celebrate the start of construction at 360 Rosemary, an approximately 300,000-square-foot, Class-A office building designed to meet LEED Gold-certification and situated within the 72-acre Rosemary Square neighborhood.

Related also unveiled plans for 575 Rosemary, an upcoming mixed-use development, and One Flagler, a Class-A office tower that will anchor Okeechobee Business District and the Flagler Financial District.

Dennis Grady
Chamber of Commerce of the Palm Beaches President & CEO Dennis Grady attended alongside Related executives Related Urban President & CEO Kenneth A. Himmel, Related Vice Chairman Bruce L. Warwick, Related Companies Senior Vice President Gopal Rajegowda, and Vice President Jordan Rathlev.

“Related is committed to the economic resurgence of Downtown West Palm Beach led by exceptional spaces designed for the increasingly interconnected way people live and work today,” said Rajegowda.

“Those who work at 360 Rosemary will have exceptional access and proximity to the suite of culinary, wellness, cultural, retail and transportation amenities in the neighborhood making it an ideal venue to foster great company culture, build new relationships and attract great talent.” 

Kelly Smallridge
Business Development Board of Palm Beach County President & CEO Kelly Smallridge said, “Over the past 5 years, we have seen a tremendous amount of interest from firms who are looking to move their operations to West Palm Beach, specifically from Manhattan, Boston and Connecticut.

Gopal Rajegowda
"Since the opening of CityPlace Tower 10 years ago, West Palm Beach has had the opportunity to increase its state-of-the-art, Class-A office space and 360 Rosemary fill that void, helping the city attract business leaders across all industries.

"Employers are always looking for locations that offer recreation, dining, entertainment and culture, and 360 Rosemary, with its proximity to Rosemary Square, offers just that.”

Designed by Elkus Manfredi Architects and Leo A. Daly, 360 Rosemary brings much-needed state-of-the-art, connected and innovative workspaces to South Florida.

Kenneth A. Himmel
The 20-story modern building will offer loft-style office space with expansive floor-to-ceiling windows that maximize natural light and 10,000 square feet of outdoor amenity space including two terraces that allow for an exceptional indoor/outdoor workplace environment.

Located adjacent to the Virgin Trains USA, formerly Brightline, high-speed rail station which connects West Palm Beach with Miami and Fort Lauderdale, on 10 local bus routes and just 3 miles from the Palm Beach International airport, the building offers unparalleled access to local transportation hubs.

The building also features seven levels of parking, shared car parking, on-site bike racks, a fitness center and on-site conference facility serving the diverse needs of today’s workforce.

Bruce L. Warwick
Committed to efficiency and innovation, 360 Rosemary is designed to reduce the environmental and economic impact associated with excessive energy use.

Anticipated LEED Gold, 360 Rosemary will feature high-speed elevators with destination dispatch technology; roof-top satellite antenna pad; increased water efficiency to reduce the burden on municipal water supply and wastewater system; preferred parking for low-emitting vehicles and alternative fueling stations; and a 100% generator backup system program.

Jordan Rathlev
The building is expected to be complete in early 2021.

The Rosemary Square neighborhood, which is currently undergoing a $550 million transformation from a retail and entertainment center to a vibrant community and destination, features premiere commercial office space including 360 Rosemary; rejuvinated green spaces; modern residences; diverse, experiential retail and culinary offerings; robust arts and cultural programing—culminating in an exceptional new district to live, work and visit in South Florida.

Related Companies is the visionary firm behind some of the world’s most impactful mixed-use urban neighborhood developments and, in the past few years alone, has created more than eight million square feet of office space for dozens of diverse business leaders across all industries including WarnerMedia, SAP, Sidewalk Labs, Wells Fargo, KKR, Google, Facebook, Converse and Tapestry.

David Childs
 In West Palm Beach, Related has demonstrated a deep understanding of workplace needs with its widely acclaimed CityPlace Tower and a legacy in neighborhood placemaking with the conception of the original CityPlace, now known as Rosemary Square.
“Today we have one of the world’s most experienced developers continuing their tradition of best-in class-development right here in West Palm Beach,"  said James.

"For over 20 years, Related has been a strong partner of the city with a long term commitment to our community.

"These three new projects will provide the much needed Class-A office space and desired residential offerings that provide significant long-term opportunities for economic growth and success. 

"This continued investment into our city is a testament to the bright and vibrant future ahead for West Palm Beach,”

Julian F. Abele
Located at the northeast corner of Rosemary Square, 575 Rosemary is a 21-story mixed-use tower designed by Elkus Manfredi Architects and Leo A. Daly. It will include 325 state-of-the-art luxury residences, with 15% of units dedicated to workforce housing, and offers residents unrivaled access to the best in local arts & culture, wellness, entertainment and shopping in the heart of Downtown West Palm Beach.

Residents will have access to many exclusive amentities such as a state-of-the-art fitness center, outdoor deck and pool, and lush rooftop gardens.

The building will also include approximately 95,000 square feet of commercial office and retail space at the base. 575 Rosemary is expected to be complete in late 2021.

Designed by world-renowned architect David Childs, One Flagler is a 25-story Class-A office building that will anchor West Palm Beach’s Okeechobee Business District and the Flagler Financial District.

Rendering of planned 575 development, West Palm Beach, FL

It will include 270,000 square feet of flexible office space, 4,100 square feet of retail space, a restaurant, and a reading room open to both the public and members of the adjacent First Church of Christ, Scientist.

The church, designed by architect Julian Abele in 1928, is considered one of the most architecturally significant buildings in all of Palm Beach County and would be preserved in perpetuity by One Flagler.

The project will also feature a living green wall adorning its parking garage and include 1.25 acres of green space extending the waterfront greenbelt. The building is expected to be complete in late 2023.


Related Companies:
Sasha Jozefczyk
Office: 531.570.3493

Thiago Viana
Office: 212.868.1900 – ext. 352
Cell: 973.558.1239

John Hanlon

Office: 267.930-4000 – ext. 676