WASHINGTON, D.C. – HFF announced today that it has arranged $99.2 million in financing for Atlantic Plumbing, a 375-unit, Class A, trophy urban infill mixed-use development in the U Street/North Shaw submarket of Washington, D.C.
HFF worked on behalf of entities owned by The JBG Companies and Walton Street Capital, L.L.C. to place the four-year construction loan, with extension options for an additional three years, with Capital One.
The development is situated at the northwestern and southwestern corners of the intersection of 8th Street and V Street NW, two blocks from the U Street metro station. Due for completion in early 2015, the property will consist of 375 designer residential units and 23,785 square feet of ground-floor retail space, including artist studios, in two separate buildings. Designed by New York architect Morris Adjmi, the project will feature one- and two-bedroom units averaging 716 square feet each. Community amenities include a state-of-the-art fitness center with yoga and spin area, lounge with bar and theater, rooftop gardens, rooftop pool with panoramic city views, rooftop grilling stations , rooftop movie screening area and electric car charging stations.
The HFF debt placement team was led by Sue Carras, Walter Coker and Brian Crivella.
Headquartered in Chevy Chase, Maryland, The JBG Companies is a private real estate investment firm that develops, owns and manages office, residential, hotel and retail properties. The company has more than $10 billion in assets under management and development in the Washington metropolitan area. Since 1960, JBG has been active in the communities where it invests, striving to make a positive impact. More information can be found by visiting the company's website: www.JBG.com, or by calling 240.333.3600.
Walton Street Capital, L.L.C. is a private equity real estate investment firm. Since its founding in 1994, affiliates of Walton Street have received total equity commitments of $6.5 billion from public and corporate pension plans, foreign institutions, insurance companies and banks, endowments and foundations, trusts and high-net-worth individuals. Affiliates of Walton Street Capital have invested and/or committed to invest more than $6 billion of equity in approximately 230 separate transactions. For more information, visit www.waltonst.com.
HFF (Holliday Fenoglio Fowler, L.P.) and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 21 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing. For more information please visit www.hfflp.comor follow HFF on Twitter at www.twitter.com/hff.