Done Deals: HFF announces $65 million sale and $47.6 million financing for the Lion Building in Washington, DC

Monday, October 29, 2018

HFF announces $65 million sale and $47.6 million financing for the Lion Building in Washington, DC

Photo by Nick Waring

Lion Building, 1233 20^th Street, Central Business District,
Washington, DC

Jim Meisel

WASHINGTON, DC – Oct. 29, 2018 – Holliday Fenoglio Fowler, L.P. (HFF) announces the $65 million sale of and the $47.6 million financing of the Lion Building, a 154,384-square-foot office building in Washington, D.C.’s central business district.

The HFF team represented the seller, JBG Smith, and procured the buyer, a joint venture between GreenOak and MRP Realty. Additionally, HFF worked on behalf of the new owners to secure acquisition financing.

The Lion Building is located at 1233 20^th Street within the CBD’s Golden Triangle, a 43-block subsection of the city housing more than 3,000 businesses, 550 retail shops and restaurants and eight luxury hotels with more than 1,800 rooms.

Andrew Weir

This location positions the property within walking distance to mass transit at the Dupont Circle, Farragut North, Farragut West and Foggy Bottom Metrorail stations.

The HFF investment advisory team representing the seller included Jim Meisel, Andrew Weir, Matt Nicholson and David Baker.

HFF’s debt placement team representing the borrower consisted of Cary Abod, Dan McIntyre and Robert Carey.

JBG SMITH is an S&P 400 company that owns, operates, invests in and develops assets concentrated in leading urban infill submarkets in and around Washington, D.C.

Matt Nicholson

The company’s mixed-use operating portfolio comprises approximately 20 million square feet of high-quality office, multifamily and retail assets, 98 percent of which are Metrorail-served.

With a focus on placemaking, the company drives synergies across the portfolio and creates amenity-rich, walkable neighborhoods. JBG SMITH’s future development pipeline includes over 17.2 million square feet of potential development density.

For additional information on JBG SMITH, please visit www.jbgsmith.com.

Cary Abod

Founded in 2005, MRP Realty is a real estate operating company focused on opportunistic and value-add investment in the northeastern United States, with offices in Washington, D.C., Maryland, Virginia, Pennsylvania, and New York City.

MRP provides to its institutional capital partners a full array of real estate services including: acquisition/disposition, development/construction management, property management, asset management and financial reporting services.

Since the company’s inception, MRP has deployed $4.1 billion in total capitalization, an average of over $300 million per year. MRP’s combined development assets total more than 20 million square feet, with an additional 9+ million square feet under management.

Dan McIntyre

For more information, please visit www.mrprealty.com.

GreenOak Real Estate (“GreenOak”) is a privately owned real estate investment manager with nine offices globally and over 100 employees.

Since formation in 2010, GreenOak has raised over $8.0 billion of equity and acquired over 150 properties representing approximately $10.0 billion of asset value globally.

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