WASHINGTON, DC—HFF has been busy doing what it does best, putting together financing. A rundown of its recent transactions include:
- Two loans totaling $36.19 million for the Holiday Inn Express & Suites and Fairfield Inn & Suites, two adjacent, 126-room, select-service hotels. The borrower, which HFF represented, was Rocks Engineering Co. HFF secured $19.3 million loan for Holiday Inn Express & Suites and $16.89 million loan for Fairfield inn & Suites with Burke & Herbert Bank. The fixed-rate loans each have a term of 10 years. The Holiday Inn Express & Suites, located at 1917 Bladensburg Rd., and the Fairfield Inn & Suites, located at 2305 New York Ave. NE, share 251 parking spaces on approximately 3.6 acres at the intersection of Bladensburg Road NE and New York Avenue NE.
- A loan of $23.6 million for a three-building warehouse complex totaling 246,145 square feet within Pickett Industrial Park in Alexandria, VA. The borrower was an affiliate of JBG Core Venture I, L.P. HFF placed the 10-year, floating-rate loan with SunTrust Bank. In June, HFF closed the sale of this asset to JBG Core Venture I, L.P., a programmatic joint venture between CBRE Global Investment Partners and The JBG Companies. Pickett Industrial Park is less than a mile and a half from Interstate 395. The one-story buildings have 24' clear heights and a total of 34 dock-high loading doors with seven drive-ins. The complex is 100 percent leased to six tenants, including General Services Administration, Commercial Carpets of America, Michael Baker Corporation and Habitat for Humanity of Northern Virginia.
- A joint venture for the Central Armature Works site, a 106,000-square-foot, mixed-use development site next to the NoMa/Gallaudet University metro station.
HFF worked on behalf of the land owner, Central Armature Works, to arrange the development joint venture partnership with Trammell Crow Company.
Located at 1200 3rd Street NE, the site will be developed for residential units and street-level retail.
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