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$104M Secures 901 K St. Office

WASHINGTON, DC-Holliday Fenoglio Fowler placed the loan for Carr Properties with a consortium of banks co-led by Wells Fargo and PNC Bank.

By Erika Morphy | Updated on February 07, 2008

WASHINGTON, DC-Funding has been secured for a spec office building being developed by Carr Properties that is expected to deliver in Q3 ’09. The building, located at 901 K St., is a 261,000-sf trophy office in the CBD, on which Carr began construction last June.

The Washington, DC office of Holliday Fenoglio Fowler LP arranged a $104-million construction loan facility for the building, which is being designed to Gold LEED standards. HFF senior managing directors Bill Asbill and Bob Donhauser, and director Cary Abod secured the 36-month loan with a consortium of banks, including Wells Fargo Bank National Association, which is serving as administrative agent for the facility and PNC Bank National Association, as syndication agent. The bank group also includes US Bank National Assoc. and Chevy Chase Bank.

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