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| Rendering of planned 1 Light Street Mixed-Use Tower Downtown Baltimore, MD |
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| Mark Remington |
WASHINGTON, DC – Holliday
Fenoglio Fowler, L.P. (HFF) announces $44 million in mezzanine financing for
the development of 1 Light Street, a
28-story, luxury mixed-use tower in downtown Baltimore, Maryland.
The HFF team worked on behalf
of the borrower, Madison Marquette, to secure the mezzanine loan through Bridge
Investment Group Holdings.
Currently under
construction, 1 Light Street will feature 280 luxury residential units, 252,243
square feet of modern office space, over 5,000 square feet of ground floor
retail and a 646-space, nine-level parking garage.
The 10 floors of
residential units will begin on the 18th floor and will have best-in-class
finishes including 9’ ceilings and a glass curtain wall as well as access to a rooftop
infinity edge pool, a resident lounge, game room, fitness center and a pet
spa. Units will be offered in studio
through two-bedroom/den layouts.
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| Brian Crivella |
The nine floors of office
space beginning on the 9th floor is 66 percent pre-leased to M&T Bank, who
will also lease a portion of the retail space.
Situated two blocks from Baltimore’s Inner Harbor, 1 Light Street is
conveniently located within walking distance to Harborplace,
The Gallery, Power Plant,
Power Plant Live!, Camden Yards and M&T Bank Stadium. Additionally, the property is close to
multiple metro stations and bus stops and has immediate access to the Jones
Fall Expressway (Interstate 83) and Interstate 395/95 providing access to
Baltimore-Washington International Airport and Washington, D.C.
The HFF debt placement
team representing the borrower included managing director Mark Remington, director Brian
Crivella and associate Drake Greer.
“This represents a
significant win for our client and investment by Bridge, but more importantly,
we congratulate Madison Marquette on securing the M&T Bank pre-lease and
for having the conviction to begin construction with equity, prior to securing
the full capital stack…that is what made this transaction possible,” said
Remington.
For more information on this 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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