LOWE SECURES $130M RENOVATION AND BRIDGE LOAN

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ARLINGTON, VA. — An affiliate of Lowe Enterprises has secured a $130 million renovation and bridge loan for two office buildings, 1400 Crystal Drive and Jefferson Plaza, in Arlington. The properties total 578,372 square feet. Wells Fargo and M&T Bank provided the financing, which will be used for the redevelopment of 1400 Crystal Drive into a trophy-quality office building. Funds will also be used for the renovation and leasing costs at Jefferson Plaza. Lowe Enterprises acquired the properties on behalf of an investment client in 2008. Cary Abod and Jordan Lex led the HFF team that arranged the loan.

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