F inancial D igest
M id A tlantic Real Estate Journal — May 2024 — 5A
www.marej.com
Citi Real Estate Funding provides five-year fixed rate CMBS loans Monday Properties secures $206 Million in financing for two Virginia properties
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RLINGTON, VA — Monday Properties has secured refinanc -
ing for its Trophy office tower at 1812 N. Moore St. and state- of-the art medical office build - ing, Shirlington Gateway. Citi Real Estate Funding, Inc. provided the five-year fixed rate commercial mortgage- back security for the two Ar- lington properties. “The recapitalizations of these buildings are a great example of the capital mar- kets’ continued commitment to high-quality office assets with market-leading sponsors and solid customer bases,” said Anthony Westreich , founding managing partner of Monday Properties. “Despite the headwinds faced by office landlords across the country, trophy assets with top-notch amenities, unbeatable acces- sibility and stunning views are continuing to attract the most dynamic companies.” Monday Properties leased 60,000 s/f of space over the last six months at 1812 N. Moore St., bringing it to 90% leased, with an additional 20,000 s/f of deals in the pipeline. The
1812 N. Moore St.
Shirlington Gateway
12-story Shirlington Gateway, which is 93% leased, is home to Anderson Orthopedic Clinic, INOVA, and Virginia Hospital Center. The loans Monday Properties secured for 1812 N. Moore and Shirlington Gate- way were for $173 million and $32.5 million, respectively. Situated in the heart of Rosslyn, 1812 N. Moore is the most iconic, trophy office
building in Arlington. Just two full floors remain avail - able for lease at the 540,000 s/f tower, which connects ten- ants to influential centers of commerce and government, as well as premium arts, dining, and entertainment. With pan- oramic views of the nation’s capital, the building also of- fers tenants use of a premium meeting and event space in
the 22nd floor conference center and lounge, as well as a dedicated fitness and wellness facility. The building’s LEED Platinum and Fitwel 2.1 viral response certifications un- derscore Monday Property’s commitment to sustainability. Another prominent and recognizable building in the region, the 206,200 s/f Shir- lington Gateway, at 2800
CBRE teams to provide financing in a challenging environment,” said Loren Berger of Argentic. With more than 30 years of experience, Fernmoor is a family-owned firm with a team of seasoned professionals spe- cializing in rental and for-sale homes. Fernmoor provides in- novative living choices across New Jersey and Delaware, from single-family homes, townhomes and condomini- ums to activeadult communi- ties and luxury rentals. The firm has received awards from the Shore Builders’ League of New Jersey, the New Jer- sey Builders Association, the Home Builders Association of Delaware and the National Association of Home Builders. MAREJ Shirlington Rd., offers un- matched access and visibility from I-395, and was recently outfitted with a new lobby. The building is just steps away from The Village at Shirlington, a vibrant 24-hour community with restaurants, eclectic shopping, experiential retail, and ample parking for building tenants and their guests. MAREJ
Klauer and Russell of CBRE arranges $29 Million bridge loan for Phase I of Mi-Place at Brightmoor in Winslow Twp., NJ
with a total of 312 units. The development will feature a clubhouse, pool, fitness center, expansive green space, and other amenities. “No transaction is easy in this economic environment, so I thank CBRE and Argentic for their efforts to get this deal closed,” said Jeffrey Fern- bach , president for Fernmoor. “Fernmoor created Mi- Place as a brand to raise the level of luxury and quality in the communities it operates in. Mi-Place at Brightmoor is another outstanding ex- ample of Fernmoor’s capa - bilities, and we are proud to have collaborated with them and Argentic on this trans- action,” said Mr. Klauer. “We were excited to work with the Fernmoor and
WINSLOW TOWNSHIP, NJ — CBRE has arranged $29 million in bridge fi- nancing for the refinance of Mi-Place at Brightmoor in Winslow Township. Matthew Klauer and Cassandra Russell with CBRE Capital Markets’ Debt and Structured Fi- nance team represented the borrower, Fernmoor in the transaction. The three-year bridge loan, provided by an entity managed by Argen- tic Investment Manage- ment LLC (Argentic) , will be used to refinance Fernmoor’s 144-unit class A multifamily project. Phase I of Mi-Place at Brightmoor consists of six garden-style buildings and will be part of a larger community
Mi-Place at Brightmoor
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