Done Deals: HFF arranges $99.2 million financing for Atlantic Plumbing mixed-use development in Washington, D.C.

Friday, September 20, 2013

HFF arranges $99.2 million financing for Atlantic Plumbing mixed-use development in Washington, D.C.

Rendering of planned Atlantic Plumbing mixed-use development
U Street and North Shaw submarket, Washington, DC

Sue Carras

WASHINGTON, D.C. – HFF announced today that it has arranged $99.2 million in financing for Atlantic Plumbing, a 375-unit, Class A, trophy urban infill mixed-use development in the U Street/North Shaw submarket of Washington, D.C.

HFF worked on behalf of entities owned by The JBG Companies and Walton Street Capital, L.L.C. to place the four-year construction loan, with extension options for an additional three years, with Capital One.

The development is situated at the northwestern and southwestern corners of the intersection of 8th Street and V Street NW, two blocks from the U Street metro station.

Walter Coker

Due for completion in early 2015, the property will consist of 375 designer residential units and 23,785 square feet of ground-floor retail space, including artist studios, in two separate buildings.

Designed by New York architect Morris Adjmi, the project will feature one- and two-bedroom units averaging 716 square feet each.

Community amenities include a state-of-the-art fitness center with yoga and spin area, lounge with bar and theater, rooftop gardens, rooftop pool with panoramic city views, rooftop grilling stations , rooftop movie screening area and electric car charging stations.