Printer-friendly version WASHINGTON, D.C. - June 30, 2014 – HFF announced today that it has arranged $65 million in financing for The View, a 17-story, 257-unit, trophy apartment tower in the Liberty Center enclave at the Ballston Metro Station in Arlington, Virginia.
HFF worked exclusively on behalf of Ashton Park Associates III, LLC, an affiliate of The Shooshan Company, to place the 15-year, fixed-rate loan with Prudential Mortgage Capital Company. Loan proceeds were used to retire the existing construction debt on the property, which HFF secured for the borrower in 2012.
The View is located at 4000 Wilson Boulevard in the Rosslyn-Ballston Corridor of Arlington. Completed in 2014, the LEED Silver luxury property includes studio, one- and two-bedroom units with open floor plans and floor-to-ceiling windows offering unobstructed views of Washington, D.C. Community amenities include a concierge desk, fitness center, club room, private courtyard, movie screen and common area rooftop with plunge pools. The property also includes 9,000 square feet of ground-floor retail space with outdoor café seating.
The View is the residential cornerstone of the second phase of Liberty Center, a 2.3 million-square-foot, mixed-use project that has achieved Arlington’s first LEED Gold certification for a neighborhood development. Upon completion, the transit-oriented, nine-building Liberty Center development will include hotel, retail, office and multi-housing components centered on open public space.
The HFF debt placement team was led by Sue Carras, Walter Coker and Brian Crivella.
“The permanent loan for this property was secured while it was still in lease-up to reduce interest rate risk and to take advantage of historically low interest rates,” commented Coker.
Founded in 1986, The Shooshan Company is a privately owned investor and full-service developer, leading innovative real estate projects built on integrity and community commitment. The Shooshan Company has now planned, developed and invested in more than three million square feet of mixed-use space in Arlington, including some of the market’s most prominent office buildings, high-end residential high-rise buildings and most notable retail locations in Northern Virginia.
HFF (Holliday Fenoglio Fowler, L.P.) and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 22 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing. For more information please visit hfflp.com or follow HFF on Twitter at twitter.com/hff.