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Eastdil Secured served as the broker for the financing AEW provides $75.5m financing for acquisition/repositioning of 172,453 s/f

ISSUE HIGHLIGHTS Volume 28 Issue 12 June 24 - July 14, 2016

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parking for 663 vehicles in a mix of surface and structured spaces. The HFF investment sales team representing the seller was led by Andrew Weir , Stephen Conl ey , Jim Meisel , Dek Potts and Matt Nicholson . “The arrival of the Silver Line has been transforma- tional for the Dulles Corridor, as tenants migrate to office properties surrounding ex- isting and future Silver Line stations, driving strong posi- tive absorption, decreasing vacancy rates and providing impressive rent growth,” said Weir, senior managing direc- tor at HFF. “Herndon Metro Plaza I and II are uniquely positioned to capitalize on this, with the asset’s rollover profile ideally concentrated in the time period surrounding the planned opening of Phase II of the Silver Line. The as- set will also be one of only 15 properties on the Toll Road with immediate walkability to a Silver Line Metrorail station.” n “AEW’s execution was seam- less and collaborative”, said Salem Tierce of Meridian. “They were able to provide a flexible structure that met our business plan and their process provided for the quick and efficient closing we needed to complete the transaction.” Eastdil Secured , led by Nick Seidenberg and Mi- chael Zelin , served as the broker for the financing. n ners like Meridian that are investing in strong underly- ing real estate.”, said Dan Jacobson of AEW, who led the financing alongside Mat- thew Klein . “We were able to craft a creative capital solu- tion that will allow Meridian to execute its business plan, and AEW was able to accom- modate Meridian’s acceler- ated time frame to provide funding concurrent with the acquisition.”

ASHINGTON, DC — AEW Capital Management, LP

SPO TLIGHTS

HERNDON, VA — Hol- liday Fenoglio Fowler, LP (HFF) announced that it has closed the $44.5 million sale of Herndon Metro Plaza I and II, a two-building, 201,272 s/f, class A office property situ- ated immediately adjacent to the future Herndon Metrorail Silver Line Station in Hern- don, a suburb of Washington, DC. HFFmarketed the property AEW provided the first mortgage plus mezzanine financing to an entity con- trolled by The Meridian Group of Bethesda, MD. The financing was structured as an initial funding of $52.5 mil- lion for the acquisition, with future funding for renovation capital and leasing costs of $23 million. Meridian plans to reposition the asset after the planned departure of the building’s largest tenant in 2018. The floating rate financ- ing provides for a five-year (AEW) announced that it has provided $75.5 million of whole loan financing for the acquisition, reposition- ing, and lease-up of 1400 L St., NW, a 12-story, 172,453 s/f office building located in Washington, DC.

Section C MID-YEAR REVIEW SHOPPING CENTERS 3-11A

OWNERS, DEVELOPERS & MANAGERS

1400 L St., NW

initial term with two, one- year extension options and no syndication requirement.

“As a real estate investment management firm we look to capitalize best-in-class part-

Section B

HFF closes $44.5 million sale of a 201,272 s/f transit-oriented office property in Herndon, VA

For speaking and sponsorship information, please contact: Linda at 781-871-3456 or lchristman@marejournal.com UPCOMING CONFERENCES June 30, 2016 NJ Mid-Year Commercial Real Estate Forecast Summit July 22, 2016 DelawareMultifamily Summit

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Upcoming Spotlight July 15th COMMERCIAL BROKERAGE DIRECTORY Shopping Centers.............................................3-11A Owners, Developers & Managers............... Section B Mid-Year Review........................................ Section C

Metro Plaza I and II

basis. This location also has outstanding regional connec- tivity by way of the Fairfax County Parkway, Rtes. 28 and 7, and the Washington Beltway (I-495), all of which are within close proximity. Additionally, Washington Dulles International Air- port is located approximately three miles from the property. The four-story properties are 91% leased overall and offer

on behalf of Brandywine Realty Trust and procured an institutional investor to purchase the asset. The as- set was sold free and clear of existing debt. Located at 196 and 198 Van Buren St., Herndon Metro Plaza I and II overlook the Dulles Toll Rd., providing ex- ceptional signage opportuni- ties for the 330,000 cars that pass the property on a daily

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