Virginia

HFF Secures $30M Loan for Class A Office Building in Tysons Corner District

by John Nelson October 9, 2015

MCLEAN, VA. — HFF has secured a $30 million bridge loan for a 152,000-square-foot, Class A office building located at 1550 Westbranch Drive in the Tysons Corner area of McLean. Completed in 2001, the six-story building is fully leased to MITRE Corp., a not-for-profit organization, through late 2016. Amenities at 1550 Westbranch include a conference center and break-out area, fitness center with shower facilities, café and a 470-space covered parking garage. Daniel McIntyre led HFF’s debt placement team in arranging the three-year, floating-rate loan through EagleBank on behalf of the borrowers, affiliates of Griffith Properties LLC and Reubenstein Partners. The loan has two one-year extension options and is being used to finance the acquisition and repositioning of 1550 Westbranch.

October 9, 2015

Multifamily Southeast Virginia

Monogram Residential Opens Apartment Community in Northern Virginia

by John Nelson October 6, 2015

TYSONS CORNER, VA. — Multifamily owner Monogram Residential Trust Inc. has opened Nouvelle, a 461-unit apartment community located in Tysons Corner, a northern Virginia suburb within the Washington, D.C., metro area. The 27-story property features 7,000 square feet of street-level retail space, a fitness center, on-site concierge, conference rooms, business center, theater, covered parking, open-air heated swimming pool, cabana lounge, landscaped gardens and an outdoor fireplace. The property’s interiors have floor-to-ceiling windows, hardwood floors, built-in desk and book shelves, Whirlpool washer and dryer units, walk-in closets, balconies and marble backsplashes. Hanover developed the LEED Silver-certified project, which is located within walking distance of the new Silver Line Station. Monogram and Monogram Residential Master Partnership I LP, a joint venture between Monogram and PGGM Private Real Estate Fund, a real estate investment vehicle for Dutch pension funds, provided equity financing for the development.

October 6, 2015

Spring Arbor of Salisbury Memory Care Midlothian

Seniors Housing Southeast Virginia

HHHunt Breaks Ground on New Memory Care Community in Virginia

by John Nelson October 6, 2015

MIDLOTHIAN, VA. — Blacksburg, Va.-based developer HHHunt has broken ground on Spring Arbor of Salisbury Memory Care in Midlothian, about 15 miles west of Richmond. The memory care community will occupy a 48,275-square-foot building adjacent to Spring Arbor of Salisbury, one of HHHunt’s six existing senior living communities in Virginia. HHHunt expects to open the community in the fall of 2016. HHHunt currently owns and manages 21 communities in Virginia, North Carolina and Maryland, with more in various stages of development.

October 6, 2015

Loans Multifamily Seniors Housing Southeast Virginia

Grandbridge Provides $13.7M Loan for Assisted Living Facility in Virginia

by John Nelson September 29, 2015

YORKTOWN, VA. — Grandbridge Real Estate Capital’s seniors housing and healthcare finance team in Atlanta has funded a $13.7 million construction loan for The Crossings on the Peninsula in Yorktown. The new 104-unit, 86,000-square-foot facility comprises 68 assisted living residences and a 34-bed memory care wing known as Harmony Square Town Center. The property’s amenities will include a library, computer lab, on-site fitness center, theater, pub, dining room, multi-purpose room, beauty shop, nursing/physician center and a swimming pool. Richard Thomas and Meredith Davis of Grandbridge coordinated the transaction with Neal Lineberry of parent company BB&T on behalf of the borrower, Roanoke, Va.-based Smith/Packett Med-Com LLC.

September 29, 2015

Retail Southeast Virginia

CBRE|Richmond Brokers $12M Sale of Walgreens in Virginia Beach

by John Nelson September 28, 2015

VIRGINIA BEACH, VA. — CBRE|Richmond has arranged the $12 million sale of a Walgreens Pharmacy at 645 First Colonial Road in Virginia Beach. Sequoia Frankford Springs purchased the newly constructed property from Old Brandon First Colonial Associates LLC. Built in June 2015, the 14,200-square-foot, freestanding store is located at the intersection of Laskin and First Colonial roads. Craige Pelouze of CBRE|Richmond represented the seller, Old Brandon First Colonial Associates LLC, in the transaction.

September 28, 2015

Loans Multifamily Southeast Virginia

Greystone Provides $6.5M Acquisition Loan for Virginia Beach Apartment Community

by John Nelson September 23, 2015

VIRGINIA BEACH, VA. — Greystone has provided a $6.5 million Fannie Mae DUS loan for the acquisition of Tivoli Apartments, a 140-unit apartment complex in Virginia Beach. The property comprises 12 two-story buildings with a clubhouse, swimming pool, picnic areas, laundry building and storage. Andrew Ellis of Greystone originated the 15-year, fixed-rate loan with a 30-year amortization schedule and one year of interest-only payments. The acquisition loan is the fifth loan that Greystone has provided to the undisclosed borrower.

September 23, 2015

Industrial Loans Southeast Virginia

HFF Arranges $23.6M Acquisition Loan for Industrial Complex in Northern Virginia

by John Nelson September 21, 2015

ALEXANDRIA, VA. — HFF has arranged $23.6 million in acquisition financing for a three-building, 246,145-square-foot industrial complex in Alexandria. The fully leased properties are located within Pickett Industrial Park at 841-929 S. Pickett St. The complex’s tenant roster includes General Services Administration, Commercial Carpets of America, Michael Baker Corp. and Habitat for Humanity of Northern Virginia. Sue Carras, Walter Coker and Brian Crivella of HFF arranged the 10-year, floating-rate loan through SunTrust Bank on behalf of the borrower, an affiliate of JBG Core Venture I LP — a joint venture between CBRE Global Investment Partners and The JBG Cos.

September 21, 2015

Loans Multifamily Southeast Student Housing Virginia

Berkadia Arranges $48M Loan for Student Housing Property Near Virginia Tech

by John Nelson September 18, 2015

BLACKSBURG, VA. — Berkadia has arranged a $48 million loan for The Edge Apartment Homes, a newly constructed student housing property near Virginia Tech in Blacksburg. John M.R. Reed of Berkadia secured the 20-year, fixed-rate loan on behalf of the borrower, Related Properties I LLC, an affiliate of SAS Builders Inc., through a life insurance company. The fully occupied, 252-unit property features two-, three- and four-bedroom apartments and townhomes. Units are fully furnished and contain a washer and dryer. Amenities at the student housing community include high-speed internet, a fitness center, yoga room, student center, heated swimming pool, picnic area and a two-story clubhouse.

September 18, 2015

Loans Office Southeast Virginia

NXT Capital Provides $22.5M to Recapitalize Two Virginia Office Buildings

by John Nelson September 17, 2015

STERLING, VA. — NXT Capital has provided a $22.5 million first mortgage for the recapitalization of Lakeside at Loudoun Tech Phase II & III, two Class A office buildings in Sterling totaling 204,000 square feet. Both properties are located within Loudoun Tech Center, an office park featuring office buildings, restaurants and two hotels.

September 17, 2015

Panera Bread 10059 Jefferson Davis Highway Fredericksburg

Retail Southeast Virginia

Coldwell Banker Commercial Elite Brokers $4.6M Sale of Strip Center in Virginia

by John Nelson September 17, 2015

FREDERICKSBURG, VA. — Coldwell Banker Commercial Elite has brokered the $4.6 million sale of a 13,900-square-foot retail building located at 10059 Jefferson Davis Highway in Fredericksburg. The property was fully leased at the time of sale to tenants such as Panera Bread, Avail Vapor, Blue Pearl Nails & Spa and a barbershop. The property is located within the Cosner’s Corner Shopping Center. Joe Pfahler of Coldwell Banker Commercial Elite represented the seller, G & S Lantier Properties LLC, in the transaction. Geoff Lindsay of Capital Realty Advisors represented the buyer, GPAC Properties LLC.

September 17, 2015

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