Francis Scott Key Bridge connects Washington, DC with Northern Virginia.
ARLINGTON, VA—A joint venture between Polinger Development Co. and an unidentified institutional investor has acquired the Meridian at Pentagon City for $228 million. The 534-unit, two-tower multi-housing property was sold by a joint venture between Paradigm and a fund advised by the UBS Asset Management Real Estate & Private Markets – US.
HFF closed the sale and arranged $126.9 million financing for the new owners, securing the fixed-rate acquisition financing through MetLife Investment Management.
Meridian at Pentagon City is located at 1221 and 1331 S. Eads St., adjacent to Amazon's forthcoming 4.1 million-square-foot headquarters office. The 95% leased property is walkable to metro service and the Pentagon and is across the street from a Whole Foods Market.
The HFF investment advisory team included Walter Coker, Brian Crivella, Stephen Conley and Matthew Lawton.
HFF's debt placement team was led by Jamie Leachman.
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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.
