Thursday, April 25, 2013

HFF secures $130 million financing for two office buildings in Arlington, VA



Rendering of 1400 Crystal Drive in Crystal City
Arlington, VA


WASHINGTON, D.C. – HFF announced today that it has secured $130 million in financing for two office buildings, 1400 Crystal Drive and Jefferson Plaza, totaling 578,372 square feet in Arlington, Virginia.

Cary Abod
HFF worked exclusively on behalf of an affiliate of Lowe Enterprises Investors to place the renovation and bridge loan with Wells Fargo and M&T Bank. 

Proceeds will be used to perform an extensive redevelopment of 1400 Crystal Drive into a state-of the-art, trophy quality office building, and to pay for renovation and leasing costs at Jefferson Plaza. 

Lowe Enterprises Investors acquired the properties on behalf of an investment client in early 2008.  Affiliate Lowe Enterprises serves as property and development manager for the buildings.

The properties are located in the heart of Crystal City and feature expansive views of Washington, D.C.  The redeveloped space at 1400 Crystal Drive and renovated Jefferson Plaza will offer the highest quality space available in the amenity-rich Crystal City submarket. 

Jordan Lex
1400 Crystal Drive is undergoing an extensive slab-to-slab reconstruction designed to achieve LEED Gold certification, which is scheduled for completion in May 2013. 

The HFF team was led by managing director Cary Abod and associate director Jordan Lex.

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

 Kristen M. Murphy
Associate Director
HFF | 9 Greenway Plaza, Suite 700 | Houston, TX 77046
tel 713.852.3500 | cel 617.543.4873 | fax 713.527.8725 | www.hfflp.com

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