DEAL TRACKER
WASHINGTON, DC–HFF secured $65 million in total financing for four apartment properties in Maryland's Prince George's County. It worked on behalf of Joseph Gildenhorn and Donald Brown, two of the co-founders of the JBG Cos., acting as representatives for the ownership partnerships, to secure four separate fixed-rate loans through Freddie Mac's CME Program. The properties in the portfolio include: Barclay Square (180 units) located at 3598 Powder Mill Rd., in Beltsville; Townley Apartments (230 units) located at 11457 Cherry Hill Rd., in Beltsville; Hickory Hill (284 units) located at 3613 Silver Park Dr., in Suitland; and Sussex Square (226 units) located at 2316 Brooks Dr. in Suitland. The properties average 95% occupancy. The HFF team representing the borrower included Sue Carras, Jamie Leachman and Jay Graham.
GREENBELT, MD–National Center for Children and Families has signed a long-term lease at Capital Office Park for 12,616 square feet at 6404 Ivy Lane. Niel Beggy with Avison Young represented NCCF, and Lauren Weiss and Jose Flefil were in-house representation for Morning Calm, the owner of Capital Office Park.
WILLIAMSBURG, VA–Hunt Mortgage Group provided a $8.5 million Fannie Mae loan to finance the acquisition of a multifamily property here called Stratford at Williamsburg. The borrower is Thalhimer Stratford, LLC, a Virginia limited liability company backed by key principals Matthew Raggi and Evan Magrill. The loan term is ten-years with five-years of interest only. Yield maintenance will apply during the first 9.5 years with a 1% prepayment fee thereafter with no fee due for the last 90 days.
BETHESDA, MD–Pebblebrook Hotel Trust has closed on new agreements which refinance and extend the maturities of its unsecured revolving credit facility and unsecured term loans. The agreements, which are with a consortium of banks, improve the pricing and terms of its credit facility and amended term loans. Pebblebrook now has no debt maturities until 2020.
DEAL TRACKER
WASHINGTON, DC–HFF secured $65 million in total financing for four apartment properties in Maryland's Prince George's County. It worked on behalf of Joseph Gildenhorn and Donald Brown, two of the co-founders of the JBG Cos., acting as representatives for the ownership partnerships, to secure four separate fixed-rate loans through
GREENBELT, MD–National Center for Children and Families has signed a long-term lease at Capital Office Park for 12,616 square feet at 6404 Ivy Lane. Niel Beggy with Avison Young represented NCCF, and Lauren Weiss and Jose Flefil were in-house representation for Morning Calm, the owner of Capital Office Park.
WILLIAMSBURG, VA–Hunt Mortgage Group provided a $8.5 million
BETHESDA, MD–Pebblebrook Hotel Trust has closed on new agreements which refinance and extend the maturities of its unsecured revolving credit facility and unsecured term loans. The agreements, which are with a consortium of banks, improve the pricing and terms of its credit facility and amended term loans. Pebblebrook now has no debt maturities until 2020.
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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.
