F inancial D igest F eaturing A ppraisal & 1031 E xchange
Real Estate Journal — September 14 - 27, 2018 — 3A
M id A tlantic
Klein &Hew represent the borrower, Wheelock Street Capital in $40Macquisition financing Abod & Carey of the HFF debt placement team represent borrower in $104 million financing
YSONS, VA — Holli- day Fenoglio Fowler, L.P. (HFF) announces $104 million in financing for Greensboro Park, a two-build- ing office portfolio totaling 505,085 s/f in Tysons. The HFF team worked on behalf of the borrower, Velocis and Altus Realty , to secure the five-year, floating-rate loan through JP Morgan Chase & Company . Loan proceeds were used to acquire the property. Greensboro Park is located at 8180 and 8200 Greensboro Drive in the Northern Virginia submarket of Tysons. The prop- erty has superior connectiv- ity to the entire Washington, D.C. metropolitan area via the Greensboro Metro and Tysons Corner stations as well as Leesburg Pike and the Dulles Access Toll Rd. Additionally, Greensboro Park is proximate to many of the area’s sought- after retail locations such as T PHILADELPHIA, PA — D2 Capital Advisors , the transaction advisory affiliate of the D2 Organization has secured $70 million in bridge financing to complete developer Eric Blumenfeld’s vision for North Broad Street. The financ- ing was provided by Guggen- heim CREF , Susquehanna Investment Group , and the Philadelphia Redevelop- ment Authority . “We are thrilled to begin the next chapter of the North Broad Street story,” said Eric Blu- menfeld, president of EBRM , “over the next six to 12 months, this corridor is going to take off like a rocket ship! In addition to the residential component of the Divine Lorraine, we have six new amazing dining establishments underway with prominent locally-based mar- quis chefs to continue the vision originally started by Marc Vetri at 640 Lofts. Thousands of new office folks, residents, and visi- tors alike will be converging to this long awaited reawakening of this grand corridor. North
loan with a financial services company. The 13-story Hyatt Regency Dulles features the LEED Silver, and IACC-certified Ex- ecutive Meeting Center con- structed in 2014 that consists of 29,000 s/f of meeting and event space, including a ballroom and outdoor gazebo reception area. Situated on 6.38 acres at 2300 Dulles Corner Blvd., the hotel is adjacent to the Washington Dulles International Airport, which welcomed almost 23 mil- lion annual passengers in 2017, and 1,000 feet from the new In- novation Center Metro station, which provides direct access to the airport and downtown Washington, D.C. Additionally, the property has access to and visibility from VA-28 and 267. The HFF debt placement team representing the borrower included managing director Steven Klein and senior direc- tor Chris Hew .
Greensboro Park, Tyson, VA
Hyatt Regency Dulles
The Boro, Tysons Central, Tysons Galleria and Tysons Corner Center. Renovated in 2015, the 11- and 14-story tow- ers feature a premier amenity package, including a fitness center, conference facilities, tenant lounges, on site café and concierge service. Greensboro Park is anchored by BB&T and
is collectively 83 percent leased to 59 tenants. The HFF debt placement team representing the bor- rower consisted of managing director Cary Abod and direc- tor Robert Carey . In a second statement, HFF announced the $40 million acquisition financing for Hyatt
Regency Dulles, a 316-room, full-service hotel adjacent to Washington Dulles Interna- tional Airport in the Wash- ington, D.C.-area suburb of Herndon, Virginia. The HFF team worked on behalf of the borrower, Whee- lock Street Capital , to place the five-year, floating-rate
D2 Capital Advisors Secures $70M Bridge financing to help complete Eric Blumenfeld’s Vision for the North Broad Street Corridor in Phila.
Divine Lorraine interior
Street will become the model for bringing people together from all walks of life by creat- ing new jobs in a flourishing community that now has some of the best living and entertain- ment amenities that the city has to offer. ” The Divine Lorraine Hotel is an eleven-story building that has been transformed into 101 class A apartments and will in- clude 20,000 s/f of ground-floor retail facing North Broad St. Located just south of the Divine Lorraine is the Studebaker – a three-story mixed-use office building that was originally built in 1916. The restoration of
each building has contributed to the ongoing revitalization of Philadelphia’s North Broad cor- ridor, which has been pioneered by Blumenfeld. “It was important for us to partner with lenders that un- derstood the developer’s grand vision for North Broad,” said Keith Delaney , president of D2. “We knew the sub-market very well, having recently se- cured financing for The Met and Mural Lofts, and we are very optimistic about how all of EBRM’s properties along North Broad will work in col- laboration to enhance the com- munity.
Broad Street is about to hit its stride with lights on at every block as we become a 24 hour community that is as diverse as any community in the nation. Our story is as holistic as they come both architecturally and communally; it was a vision
originally started by Pastor Herbert Lusk, invigorated by chef Marc Vetri and with the introduction of the federal op- portunity zone, we now have a recipe to accelerate the attrac- tion of capital in urban America and I expect that North Broad
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