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Middle-Market Digest

Middle Market Digest: The Mid-Atlantic

CBRE has secured $152 million for the acquisition of One Dulles Tower via a 10-year, interest only fixed-rate CMBS loan.

One Dulles Tower

NEWS & NOTABLES

GREENSBORO, NC–Bell Partners has promoted two members of its investment team, Nickolay Bochilo and Joseph Cannon, to Executive Vice President. Bochilo joined Bell Partners in 2001 and Cannon joined in 2009.

ARLINGTON, VA–The Lennar Palm Atlantic Division announced its new senior leadership team following the recent $9.3 billion merger deal between Miami-based Lennar Corp. and Virginia-based CalAtlantic Group. The new executives joining the division as a result of the merger include Division President Dan Grosswald, Vice President of Purchasing and Design Steven Dassa, Vice President of Field Operations Scott Harala, and Vice President of Sales and Marketing Chris Leimbach.

DEAL TRACKER

WASHINGTON, DC–HFF is marketing Washington Harbour, an iconic, 562,105-square-foot, mixed-use property with office and retail space on Georgetown’s waterfront. It is 98% leased to 31 tenants with seven years of weighted average remaining lease term.

HERNDON, VA–CBRE has secured $152 million for the acquisition of One Dulles Tower, a 403,622-square-foot, 13-story office. Shawn Rosenthal and Sunny Somaiya of CBRE Capital Markets’ Debt & Structured Finance team, based in the firm’s Midtown Manhattan office, secured the 10-year, interest only fixed-rate CMBS loan on behalf of Harbor Group International. The acquisition financing was provided by Wells Fargo. As a result of locking the index in January, the buyer was able to obtain a sub-4% interest rate for the loan term.

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Erika Morphy

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.

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