USA: Washington Harbour Gets $160 Million for Development
The Washington, D.C. office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it has arranged $160 million in financing for Washington Harbour, a Class A, two-building, mixed-use development on the Potomac River in Washington, D.C.
Working exclusively on behalf of Rockpoint Group and MRP Realty, HFF senior managing directors Bill Asbill and Bob Donhauser and managing director Cary Abod secured the five-year, fixed-rate loan with MetLife Real Estate Investments.
Washington Harbour is located at 3000 and 3050 K Street NW directly on the Potomac River in the Georgetown submarket of Washington, D.C. The property has two towers totaling 532,601 square feet; 456,376 of office space and 76,225 square feet of retail space. Washington Harbour is 86% leased to more than 20 tenants, the largest of which are law firms Foley & Lardner and Kelley Drye & Warren. On-site amenities include a two-story, 489-space underground parking garage and a fitness center.
Rockpoint Group, L.L.C. is a global real estate investment management firm with offices located in the U.S., Europe and Asia. Rockpoint targets a broad range of real-estate related investments across all asset classes and geographic regions, with particular focus on value creation and distressed/restructuring opportunities. The firm invests primarily on behalf of public and private pension funds, endowments and financial institutions.
HFF operates out of 17 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF offers clients a fully integrated national capital markets platform including debt placement, investment sales, structured finance, private equity, loan sales and commercial loan servicing.
Source: businesswire, August 3, 2010;