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CRYSTAL CITY, VA-Lowe Enterprises has secured a $116.1 million refinancing package with GE Real Estate for its Century Center I and II office towers here. The three-year adjustable rate loan will be used to repay original loans on the 624,573-sf office complex–as well as support its ongoing $28 million renovation of the project.

Century Center I and II are 13-story buildings consisting of more than 560,000-sf of office space and 70,000-sf of retail. Upgrades will include refurbished lobby and public space, new entrances and extensive enhancements to the buildings’ facades. The renovation will be completed in summer 2008. Century One is located at 2450 Crystal Dr., totaling 389,732 sf with more than 900 parking spaces. Adjacent building Century Two is located at 2461 S. Clark St., totaling 238,091 sf with more than 600 parking spaces. The properties are joined by a retail promenade at the first floor street level, which is also connected to adjoining buildings and the Metro to the North.

HFF senior managing directors Bob Donhauser and William Asbill and director Cary Abod placed the loan. Donhauser did not return a call to GlobeSt.com in time for publication. Renovations have been ongoing for the last two years, Donhauser says in a prepared statement. The next phase of the renovation will consist of a major repositioning of the existing ground-level retail space.

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