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| Capital Office Park, 6301-6421 Ivy Lane, Greenbelt, MD |
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| Cary Abod |
WASHINGTON, D.C. ––
Holliday Fenoglio Fowler, L.P. (HFF) announced it has secured $46.6 million in
financing for Capital Office Park, a
seven-property office portfolio totaling 806,531 square feet in the Greenbelt,
Maryland suburb of Washington, D.C.
HFF worked on behalf of
the borrower, Morning Calm Management, to arrange the floating-rate acquisition
financing through ACORE Capital, a leading commercial real estate finance
company.
The office park is
situated at 6301-6421 Ivy Lane, about 11 miles northeast of Washington, D.C.
near The Capital Beltway (Interstate 495) in Greenbelt. The portfolio is currently 60 percent leased
to a diverse mix of tenants, including Bozzuto & Associates, Whiting
Turner, and the U.S. District Attorney’s Office.
Morning Calm Management, who will be moving
its primary office to Capital Office Park, has a successful track record of
office repositionings throughout the United States. Morning Calm intends to
inject substantial capital into the assets via the upgrading and modernization
of lobbies, elevators, windows and amenity spaces.
These improvements will
help the assets retain current tenants and attract additional tenants, and
cement Capital Office Park’s position as the premier suburban D.C. corporate
location.
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| Michael Gigliotti |
The HFF debt placement
team representing the borrower was led by managing director Cary Abod and senior managing director Michael Gigliotti.
“Morning Calm has made an
impressive foray into the D.C. marketplace with their acquisition of Capital
Office Park,” said Abod.
“They have a
clear, coherent plan for the portfolio that resonated with the lender community
and generated an impressive amount of interest.
In addition, ACORE was remarkably effective in executing the financing
on a condensed timeline.”
For a complete copy of the company’s news release,
please contact:
Kristen M. Murphy
Director, Public Relations
HFF | One Post Office
Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 |
Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com
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