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| Lakeside Sterling II and III, 21345 and 21355 Ridgetop Circle, Sterling, VA |
WASHINGTON, D.C. --
Holliday Fenoglio Fowler, L.P. (HFF) announced it has secured $22.5 million in
financing for Lakeside II and III,
Class A office buildings totaling 203,662 square feet in Sterling, Virginia.
HFF worked on behalf of
the borrower, a joint venture of The Pinkard Group, Buchanan Partners and AEW
Capital Management, in arranging the four-year, floating-rate, non-recourse
loan with NXT Capital.
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| Dan McIntyre |
The bridge loan is being
used to finance the acquisition and lease-up of the properties, and to help
facilitate the borrower’s business plan to leverage their very low basis in the
properties to offer attractive rental rates to win tenants and stabilize the
property.
Lakeside II and III are
located at 21345 and 21355 Ridgetop Circle visible from Route 7 in Sterling,
Virginia.
The assets are situated within
the Loudoun Tech Center, which is walking distance to two hotels and several
restaurants and near Dulles Town Center and Washington Dulles International
Airport.
Completed between 1999 and
2001, the property is 24 percent leased.
The HFF debt placement
team representing the borrower was led by Dan
McIntyre.
“Lakeside II and III is
truly best‐in‐class in the submarket, and offers tenants access to the
surrounding amenity base and dramatic lake views from all floors,” said
McIntyre.
For a complete copy of the company’s news release,
please contact:
Olivia Hennessey
Public Relations
Coordinator
HFF | 9 Greenway Plaza
Suite 700 | Houston, Texas 77046
tel 713.852.3403 | fax
713.527.8725 | www.hfflp.com
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