WASHINGTON–(BUSINESS WIRE)–lt;a href=”https://twitter.com/search?q=%24HF&src=ctag” target=”_blank”gt;$HFlt;/agt; lt;a href=”https://twitter.com/hashtag/CRE?src=hash” target=”_blank”gt;#CRElt;/agt;–Holliday Fenoglio Fowler, L.P. (HFF) announces it has closed the $228
million sale and $126.9 million financing of Meridian at Pentagon City,
a 534-unit, two-tower multi-housing property in Arlington, Virginia.
HFF marketed the property exclusively on behalf of the seller, a joint
venture between Paradigm and a fund advised by the UBS Asset Management
Real Estate & Private Markets – U.S., and procured the buyer, a joint
venture between Polinger Development Co. and an unidentified
institutional investor. In addition, HFF worked on the new owner’s
behalf to arrange fixed-rate acquisition financing through MetLife
Investment Management.
Meridian at Pentagon City is located at 1221 and 1331 S. Eads Street
adjacent to Amazon’s forthcoming 4.1 million-square-foot headquarters
office. In addition, the 95-percent-leased property is walkable to metro
service and the Pentagon and is across the street from a Whole Foods
Market and within a one-mile radius of an additional 1.9 million square
feet of retail. The property consists of two high-rise towers
encompassing a mix of studio, one- and two-bedroom units averaging 846
square feet as well as two parking garages totaling 524 spaces. In
addition to its premier location and spacious units, the property also
features two rooftop pools, two expansive outside terraces with grilling
areas, an 18th-floor clubroom with views of the Capitol, a fitness
facility, dog park, clubroom with gaming area, business center, guest
suite accommodations, concierge service and a 24-hour front desk.
The HFF investment advisory team included Walter Coker, Brian Crivella,
Stephen Conley and Matthew Lawton.
HFF’s debt placement team was led by Jamie Leachman.
About Paradigm
Paradigm was formed in 1991 and is headquartered in Arlington, Virginia.
Paradigm has developed over 10,000 apartment units and currently manages
over 7,000 apartment units with a preponderance of these units being
luxury mid- and high-rise units, most of which are in the Metro
Washington, D.C. area. Paradigm’s business strategy has fundamentally
been to provide excellent customer service to its residents while
enhancing the value of the assets for its owners/institutions.
About Polinger Development
Polinger Development is an affiliate of Polinger Company, a fully
integrated real estate organization that creates exceptional value for
its investors and equity partners, while providing high-quality
life/work environments for residents and corporate tenants. Polinger
Company has 70 years of experience in residential and commercial real
estate in the Washington, D.C., Maryland and Virginia area. The company
specializes in acquisitions/development, construction services, and
residential and commercial management. For more info, visit https://www.polingerco.com/.
About HFF
HFF and its affiliates operate out of 26 offices and are a leading
provider of commercial real estate and capital markets services to the
global commercial real estate industry. HFF, together with its
affiliates, offers clients a fully integrated capital markets platform,
including debt placement, investment advisory, equity placement, funds
marketing, M&A and corporate advisory, loan sales and loan servicing.
HFF, HFF Real Estate Limited, HFF Securities L.P. and HFF Securities
Limited are owned by HFF, Inc. (NYSE: HF). For more information, please
visit hfflp.com
or follow HFF on Twitter @HFF.
Contacts
WALTER COKER
VA Lic. #0225092459
HFF Managing Director
(202)
533-2500
[email protected]
BRIAN CRIVELLA
VA Lic. #0225188521
HFF Senior Director
(202)
533-2500
[email protected]
JAMIE LEACHMAN
HFF Senior Director
(202) 533-2524
[email protected]
OLIVIA HENNESSEY
HFF Public Relations Specialist
(713)
852-3403
[email protected]
