HERNDON, VA—DTZ secured an $83 million bank loan for Woodland Park, a three-building office complex. It arranged the funding on behalf of a joint venture between AEW Capital Management, which was representing one of its separate account clients, and American Real Estate Partners.
Executive Managing Director John Campanella arranged the long-term fixed-rate loan.
"We had a number of lending institutions quoting on Woodland Park," Campanella said in a prepared statement.
The three buildings total 480,324 square feet and are currently 96% leased. They are located in Woodland Park, a 175-acre office, retail and residential development along the Dulles Toll Road. The property is within walking distance of the future Herndon-Monroe Street Metro Station and is close to Reston Town Center.
The properties include Plaza Ridge II, a 160,046 square foot office building, and South Point I and II, twin buildings totaling 320,278 square feet.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
