HFF arranges financing for Arlington office building
Holliday Fenoglio Fowler (HFF) said Wednesday that it has arranged refinancing for Jefferson Plaza, a 270,286-square-foot office building located at 1401 S. Clark Street in the Crystal City submarket of Arlington.
HFF worked on behalf of an affiliate of Lowe Enterprises Investors to place the floating-rate loan with Square Mile Capital. Loan proceeds will be used to retire existing financing that HFF secured in 2013, and provide funding for lease-up.
With common areas renovated in 2013 and 2016, Jefferson Plaza is an institutional-quality office building offering tenants an amenity package that includes a fitness center, conference center and on-site café. Jefferson Plaza has direct access to the D.C. metrorail system and is close to Ronald Reagan National Airport and the Pentagon.
Managing Director Cary Abod and Associate Director Robert Carey led the HFF debt placement team representing the borrower. “As the Crystal City submarket continues to recover from BRAC and sequestration, Jefferson Plaza is positioned to benefit from increased leasing velocity,” said Abod.