ARLINGTON, VA-Lowe Enterprises Investors secured $130 million from Wells Fargo and M&T Bank for two office buildings located at 1400 Crystal Dr. and Jefferson Plaza in this submarket. The properties total 578,372 square feet. HFF's Cary Abod and Jordan Lex arranged the financing.
Proceeds will be used to redevelop 1400 Crystal Dr. and to pay for renovation and leasing costs at Jefferson Plaza. 1400 Crystal Dr.'s renovation will deliver this May. It has been an extensive slab-to-slab reconstruction designed to achieve LEED Gold certification.
The HFF team was led by managing director Cary Abod and associate director Jordan Lex.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
