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Two Herndon Properties Refinance

WASHINGTON, DC-HFF completes two refinancings for an aggregate $47.4 million.

By Erika Morphy | Updated on August 10, 2006

(For more retail coverage, click GlobeSt.com/RETAIL.)

WASHINGTON, DC-Anecdotal evidence that Washington, DC area developers and investors are seeking to lock in rates continues to pile up. Two projects that recently completed refinancing include the Crowne Plaza Hotel & Conference Center near Washington Dulles National Airport in Herndon, VA for $30 million. Also in Herndon, Kohl’s Department Store and a BB&T Bank secured $17.4 million in refinancing.

The Washington, DC office of Holliday Fenoglio Fowler, LP arranged both transactions, which closed in July and June, respectively, HFF managing director Mark Remington tells GlobeSt.com. “Washington, DC remains extremely competitive,” he says. “It is a market where a lot of capital wants to go.”

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