HFF Arranges $62.5M Construction Loan for Mixed-Use Tower in Metro D.C.

ARLINGTON, VA. — HFF has arranged $62.5 million in financing for the development of the leasehold interest in 1008 North Glebe, a planned 15-story, 267-unit apartment and retail tower in Arlington, a northern Virginia suburb of Washington, D.C. The Shooshan Co. will develop the Class A property on Marymount University’s Ballston Center Campus, located at the intersection of North Glebe Road, North Fairfax Drive and I-66 in the Rosslyn-Ballston Corridor. Adjacent to the new project will be a 165,000-square-foot classroom/office building owned by Marymount University. The combined project is slated for a spring 2017 completion. Sue Carras, Walter Coker and Brian Crivella led HFF’s debt placement team to arrange the construction loan through SunTrust Bank.