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| 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.
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| 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.
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| 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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