$160M acquisition financing for Washington Harbour in Washington, DC arranged by HFF

WASHINGTON, DC. – The Washington, D.C. office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it has arranged $160 million in financing for Washington Harbour, (top left photo)  a Class A, two-building, mixed-use development on the Potomac River in Washington, D.C.

Working exclusively on behalf of Rockpoint Group and MRP Realty, HFF senior managing directors Bill Asbill (middle left photo) and Bob Donhauser (lower right photo)  and managing director Cary Abod (lower left photo) secured the five-year, fixed-rate loan with MetLife Real Estate Investments.

Washington Harbour is located at 3000 and 3050 K Street NW directly on the Potomac River in the Georgetown submarket of Washington, D.C.

 The property has two towers totaling 532,601 square feet; 456,376 of office space and 76,225 square feet of retail space. Washington Harbour is 86% leased to more than 20 tenants, the largest of which are law firms Foley & Lardner and Kelley Drye & Warren.

On-site amenities include a two-story, 489-space underground parking garage and a fitness center.

Rockpoint Group, L.L.C. is a global real estate investment management firm with offices located in the U.S., Europe and Asia.

Rockpoint targets a broad range of real-estate related investments across all asset classes and geographic regions, with particular focus on value creation and distressed/restructuring opportunities.

The firm invests primarily on behalf of public and private pension funds, endowments and financial institutions.

Contacts:

Robert F. Donhauser, HFF Senior Managing Director, (202) 533-2500, bdonhauser@hfflp.com
Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500,
krmurphy@hfflp.com


HFF closes $8.275M sale of Publix-anchored retail shopping center in Atlanta, GA

ATLANTA, GA – The Atlanta office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it has closed the sale of Duluth Station, a 94,966-square-foot, Publix-anchored retail shopping center in Atlanta, Georgia.

HFF director Jim Hamilton (middle right photo) led the investment sales team on behalf of the seller, L&B Realty Advisors, LLP. Forge Capital Partners purchased the property for $8.275 million free and clear of debt.

Duluth Station is situated on a 14-acre site at 2750 Buford Highway in Atlanta. The property is 79% leased to tenants including Publix, Great Clips, H&R Block, Kauffman Tire, Kumon Learning, State Farm and Subway.

“The property is situated in one of the most affluent suburban locations in the Atlanta MSA and offers the new owner significant upside opportunity in leasing the remaining vacant suites,” said Hamilton.

L&B Realty Advisors is an employee-owned, SEC-registered real estate investment advisor.

Since 1965, L&B has provided real estate investment management services to institutional investors and high-net-worth individuals. With $3.6 billion under management and over 40 years experience, L&B has a proven track record of successfully acquiring, managing, and disposing real estate on behalf of our clients.

Forge Capital Partners is a diversified, commercial real estate investment and investment management company. The company carries out its business strategy by sponsoring real estate-oriented private equity funds and through an affiliated group of companies, which include: Forge Capital Management, Forge Property Management, Forge Development Group, and Forge Real Estate Services.

Contacts:

Jim R. Hamilton, HFF Director(404) 942-2212    jhamilton@hfflp.com
Kristen M. Murphy, HFF Associate Director, Marketing (713) 852-3500  krmurphy@hfflp.com

HFF arranges $9.85M financing for Syracuse, NY hotel

NEW YORK, NY – The New York and Dallas offices of HFF (Holliday Fenoglio Fowler, L.P.) announced today that they have arranged $9.85 million in financing for the 279-room Renaissance Hotel (bottom right photo)  in Syracuse, New York.

HFF senior managing director Jay Marshall (lower right photo)  and director Brian Carlton (lower left photo)  worked exclusively on behalf of the borrower, a joint venture between Richfield Hospitality, Inc. and Shelbourne Falcon Investors, to secure the five-year, fixed-rate loan through Lydian Private Bank.

Loan proceeds are being used to acquire the hotel and rebrand it to a Crowne Plaza.

Located at 701 East Genesee Street, the hotel is one half mile north of the Syracuse University Campus adjacent to Interstate 81 in downtown Syracuse.

 The 20-story property will undergo a $5 million renovation that will include updates to guest rooms, public spaces and the exterior of the hotel. Hotel amenities include 12,235 square feet of meeting space, a lounge, fitness center, business center and Redfield’s Restaurant.

Richfield Hospitality, Inc. is a leading hotel management company with a premier track record of maximizing profitability and improving asset values for hotel owners. Richfield and its affiliates offer proven solutions and expertise to approximately 500 hotels and resorts.

 Based in Denver, Richfield is part of City Developments Limited, one of the world's largest real estate, hotel investment and technology conglomerates with a market capitalization exceeding US$6 billion. www.richfield.com.

Shelbourne Falcon Investors is a joint venture partnership between Shelbourne Capital (www.shelbournecap.com) of Radnor, Pennsylvania, and Falcon Investors (www.falconinvestors.com) of Harrison, New York.

Shelbourne Falcon Investors specializes in hospitality-sector real estate investments across the United States.

Contact:

Jay B. Marshall, HFF Senior Managing Director, (212) 245-2425, jmarshall@hfflp.com
Brian G. Carlton, HFF Director, (214) 265-0880, bcarlton@hfflp.com
Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500, krmurphy@hfflp.com