FAIRFAX, VA—Federal Partners has secured $40.1 million in financing from BB&T for a three-asset office portfolio located in Westfields Corporate Center, GlobeSt.com has learned on an exclusive basis. JLL's Jon Goldstein, Wesley Boatwright and Mike Yavinsky led the team on the transaction.

The transaction is interesting due to the office portfolio's suburban location. However, while the submarket may have been battling high occupancy rates of the last few years, the Westfields Corporate Center can be considered one of the country's premier office park developments. More to the point, the portfolio is fully leased to three investment grade tenants.

Encompassing 409,478 square feet, Liberty Center I, II and III have such security features as audio-visual capabilities and SCIF space -- necessary enhancements to conduct business with government intelligence agencies.

It is, in short, a very safe bet for BB&T, Goldstein tells GlobeSt.com. "This was a low leverage deal at 40%."

It is true, however, that in general lenders today are more focused on office product in DC itself and the close-in suburbs, he says. "Typically there is not as much as an appetite for suburban office product. When you get to the suburbs it becomes a product-specific lending market."

That, though, has started to change among some bank lenders, he added, that are becoming more aggressive to land deals. "We have seen banks with increased appetite across the board looking to increase exposure to CRE. High-quality opportunities are being bid pretty aggressively by the banks."