11A — February 14 - 27, 2014 — Mid Atlantic Real Estate Journal
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Cassidy Turley’s John Campanella and Paul Spellman represent owner in transaction Cassidy Turley arranges $100m in financing for The Meridian Group F inancial D igest
Mid Atlantic Real Estate Journal — February 14 - 27, 2014 — 11A
www.marejournal.com
A
RLINGTON, VA — Cassidy Turley , a leading commercial
president Paul Spellman of Cassidy Turley arranged the financing on behalf of The Meridian Group . As part of the 4.5 million- s/f Potomac Yard mixed-use development in Arlington, National Gateway I and II are situated in the Crys- tal City submarket, within minutes of Ronald Reagan National Airport, two Me- trorail lines, the Pentagon and downtown Washington, DC. Both buildings achieved LEED-EB Gold Certification in 2012. n
real estate services provider in the US, announced that it has arranged financing total- ing $100 million for National Gateway I and II, 3500 & 3550 South Clark St., in Ar- lington. National Gateway I & II is a two-building office complex with a retail com- ponent, including a 45,000 s/f LA Fitness health club, totaling 437,379 s/f. Ex- ecutive managing director John Campanella and Vice
3500 & 3550 S. Clark St., Arlington, VA
Jones Lang LaSalle secures nearly $70M for purchase of 5 Giralda Farms
Kennedy Funding completes $28.86m note sale secured by 2,654 acres of land
MADISON, NJ —On behalf of a partnership between Lin- coln Equities Group, LLC , and Lakestar Properties , Jones Lang LaSalle’s (JLL) Capital Markets experts an- nounced the firm has secured $69.8 million in acquisition and future “good news” fi- nancing for the purchase of 5 Giralda Farms, a 463,435 s/f trophy, class A+ office build- ing located in Madison, within the Giralda Farms Corporate Campus. NorthStar Realty Finance provided the five- year, non-recourse loan. Executive vice president Dustin Stolly and vice presi- dent Aaron Niedermayer led the JLL team on the transac- tion. “This property is considered the premier corporate facility in the state of New Jersey, providing the epitome combi- nation of quality and location,” said Stolly. “The best-in-class sponsorship, along with the expectation of a single, credit tenant to sign a long-term lease at the property, made this opportunity compelling to banks and money managers, and the process was extremely competitive.” 5 Giralda Farms offers an unparalleled and state-of-the- art amenity package including a 345-seat cafeteria, conference
ENGLEWOOD CLIFFS, NJ — Kennedy Funding has closed a $28.86 million
“Lending for residential has become an important part of what we do,” said Wolfer. “It is arguably the strongest real estate sec- tor right now, and when it’s paired with recreational and resort uses, or has them in close proximity, that is all the more attractive as an op- portunity. In addition to the financing and eventual note sale for the Cedar Mountain, Utah property, our firm has recently provided financing for similar projects in such diverse—and international— locations as Johnsonville, SC, Tampa, FL and the Do- minican Republic. Kennedy Funding, Amer- ica’s leading direct private lender, specializes in bridge loans for commercial prop- erty and land acquisition, development, workouts, bankruptcies, and foreclo- sures. The company has closed more than $2.5 billion in loans to date. The firm’s creative financing expertise enables the closing of loans of up to a 70% loan-to-value ratio, from $1 million to more than $50 million, in as little as five days. Kennedy Fund- ing continues to actively seek new funding opportunities throughout the world. n
n o t e s a l e for Braffits Creek Es- tates, LLC , announced KevinWolf- er , president and CEO of the d i r e c t private lend-
Kevin Wolfer
er. Kennedy Funding had previously provided a loan in that amount to the bor- rower, secured by 2,654 acres of land at Cedar Mountain, Iron County, Utah. Located just 10 miles from the noted Brian Head Ski Resort in Cedar City, Utah, the site’s initial phase was approved for residential de- velopment, including 145 five-acre “off the grid” lots, of which most have been sold and improved with homes. Phase two was approved for 239 five-acre lots, followed by a 1,028-acre phase three zoned for 20-acre lots. “When the borrower ini- tially approached us, they needed a loan to move the project forward,” said Wolfer. “We are pleased to have been able to complete the note sale.
5 Giralda Farms
facilities and a 15,000 s/f fitness center with a basketball court and locker rooms. In addition, the property features a sepa- rate 13,000 s/f day-care facility and a 9,200 s/f carriage house, ideal for corporate functions and executive dining. It is lo- cated within the Route 24 office submarket, an established cor- porate location in New Jersey that boasts a dominant pres- ence of Fortune 500 companies includingAT&T, Bank of Amer- ica, Pfizer, Prudential, Morgan Stanley and Quest Diagnostics.
The Route 24 corridor has his- torically commanded strong asking rents due to the appeal of the location and quality of the Class A product. Jones Lang LaSalle Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm’s in-depth local market and global inves- tor knowledge delivers the best- in-class solutions for clients — whether a sale, financing, repositioning, advisory or re- capitalization execution. n
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