- DC

ashington DC — GIC, Singapore’s sovereign wealth W Totalling more than $1.05 billion in aggregate asset value GIC & Beacon lead investor joint ventures to acquire D.C. office portfolio Reagan National Airport. An affiliate of Beacon Capital Part- ners will continue to manage the buildings.

ISSUE HIGHLIGHTS Volume 29 Issue 6 March 10 - 23, 2017


fund, has formed joint ven- tures with a group of investors including affiliates of Beacon Capital Partners , a real es- tate developer, owner and manager of office properties in major US markets, to acquire over 2.1 million s/f of office as- sets in the Washington D.C. metro totalling more than $1.05 billion in aggregate asset value. One of the joint ventures includes the acquisition of Lafayette Centre, a 789,000 s/f class A LEED Silver complex of three multi-tenant buildings located in the Central Business District (CBD) submarket, and Pentagon Center, an 912,000 s/f

Separately, GIC invested alongside an existing Beacon- sponsored fund into Terrell Place, an 426,000 s/f class A office complex of three intercon- nected buildings located in the East End sub-market. Adam Gallistel , region- al head of americas, GIC, said, “These acquisitions will strengthen our portfolio of high-quality office assets in the US and enable us to invest in scale in the Washington DC market, one of the leading gate- way cities of the US. We believe in the long-term strength of the DC metro area.” n

Northern NJ Spotlight


Central PA Spotlight


Terrell Place

tration located in the Crystal City submarket of Arlington, adjacent to the Pentagon and

complex of two buildings fully- leased for the long term to the US General Services Adminis-

Upcoming Conferences March 30, 2017 Pittsburgh Multifamily Summit April 26, 2016 New Jersey Office Summit April 27, 2017 Philadelphia Capital Markets Summit For speaking and sponsorship information, please contact: Linda at 781-740-2900 or lchristman@marejournal.com

184-unit building facingmidtownManhattan fully financed&under construction Landsea closes $102.3 million construction loan for Avora Luxury Condominiumproject

Weehawken, NJ — Landsea has announced that it closed on a $102.3M construction loan for Avora, a 184-unit luxury condominium project rising on the Wee- hawken, NJ waterfront facing midtown Manhattan. The amenity-rich 10- and 11-story building, which also includes 6,000 s/f of ground-floor retail space, is under construction, with initial occupancy sched- uled for first quarter, 2018. The financing was secured


Avora Interior

by Landsea with the assis- tance of Holliday Fenoglio Fowler, L.P. (HFF) through the Bank of the Ozarks . John Ho, CEO of Landsea, said: “Securing this financing reflects the appeal of Avora by a commercial lending in- stitution eager to invest in a project with an exceptional Manhattan-centric location, world-class design, and a global marketing program that has already yielded sig- nificant pre-construction sales in the United States and abroad. Avora continues Landsea’s nationwide strat- egy to acquire well-located sites in prominent United

States gateway cities for transit-oriented, residential developments.” Avora’s modern design was created by world-renowned architects IBI Group which conceived a multi-tiered, stepped-back design to maxi- mize the building’s water- front location and spectacular views of midtown Manhattan and the Hudson River. Locat- ed in the heart of the $2 billion master-planned Port Imperial community that stretches two miles of Hudson River wa- terfront, Avora is steps away from the Port Imperial Ferry Terminal, which offers ferry service to both midtown and

downtown Manhattan. The HFF debt placement team representing the bor- rower was led by senior man- aging directors T homas Di- dio, Michael Gigliotti and executive managing director Dan Cashdan . “The project’s prime loca- tion will offer residents the quickest and most convenient access to Manhattan of any luxury condo development along the Gold Coast,” said Di- dio. “Furthermore, its location abutting the Hudson River will provide residents with sweeping views of theManhat- tan skyline that will forever remain unobstructed.” n


Financial Digest................................................5-16A New Jersey................................................. Section B Pennsylvania.............................................. Section C

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