4-10-15

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Investment sales team led by Meisel, Potts, Weir, Conley, Nicholson & Diorio HFF closes $109m sale of downtown Washington, DC office building W ASHINGTON, DC – HFF closed the $109 million sale of

ISSUE HIGHLIGHTS Volume 27 Issue 7 April 10 - 23, 2015

tels. The building is proximate to four metro stations: Farragut North and West, Dupont Circle and Foggy Bottom. The build- ing features 173,229 s/f of office, 16,886 s/f of retail and 5,509 s/f of storage space in addition to a 4,500 s/f roof terrace and three levels of below-grade parking containing 242 spaces. Tenants of the 100% leased building in- clude Kaplan, Radio Free Asia, and Smith Bucklin. The HFF investment sales team was led by senior manag- ing directors James Meisel, Dek Potts and AndrewWeir , executive managing director Stephen Conley, associate director Matthew Nicholson and senior real estate analyst Jessica Diorio. n

ALLENTOWN, PA — Mis- sion Capital Advisors ar- ranged $41 million in ac- quisition and repositioning financing for 1110 American Parkway NE, a 563,000 s/f , class A office building in the heart of Pennsylvania’s fast growing Lehigh Valley. The Mission Capital team of Jonathan More, Alex Dra- ganiuk and Axel DeAngelis represented Patriot Equities on an exclusive basis in secur- ing the financing. “Our team was tasked with the challenge of arranging full leverage financing on a 2025 M St. NW, a 195,624 s/f office building in downtown Washington, DC’s Golden Tri- angle area. HFF marketed the prop- erty on behalf of the seller, a partnership between The Oli- ver Carr Company and Clark Enterprises, Inc. Mikeone EK purchased the asset. The eight-story 2025 M St. NW is situated between 20th and 21st Streets NW within downtown Washington, DC’s Golden Triangle, an area that encompasses 43 blocks and houses 3,000 businesses, more than 500 retail shops and res- taurants and seven luxury ho-

11-19A

EquityRetail Brokers represents the Cato Corporation in lease

2025 M Street NW

Mission Capital Advisors arranges $41 million in financing for class ALehigh Valley office property

5B

Rittenhouse Realty Advisors celebrates 2 Year Anniversary

10C

1110 American Parkway NE the seller. Patriot Equities’ institutional-quality sponsor- ship, along with aggressive and exemplary leasing prow- ess during the contract period, helped our team craft the right story needed to nearly full- leverage financing.” The 2002-built, class A of- fice property was developed by a subsidiary of Lucent, an AT&T joint venture, which spared no expense in creat- ing this best-in-class asset with top-tier infrastructure and amenities. Upon acquisi- tion, Patriot Equities is set to

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short-fuse acquisition with 40 days to close. We were also presented with a host of mov- ing parts and unknowns, such as substantive property lease- up during the contract period, including post-lender term sheet execution prior to loan closing, which required addi- tional negotiation and capital source flexibility,” said More. “The Property itself is the top suburban office asset in Penn- sylvania. The Sponsor suc- ceeded in tying it up directly off-market at a very attractive basis after 10 years of courting

invest approximately $7 mil- lion in capital improvements, including renovations to the lobby and common areas. The sponsor will also initiate tenant improvements for the 475,000 s/f of leases negoti- ated and executed during the contract period. “With Patriot Equities’ reputation as a premier real estate investor and the excel- lent condition of this class A property, we received sig- nificant interest from wide array of capital sources,” said Draganiuk. n

DelMarVa.................................................................5-6A Financial Digest......................................................7-20A New Jersey....................................................... Section B Southern New Jersey. ............................................5-11B Pennsylvania.................................................... Section C Eastern PA.............................................................. 3-14C

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