HFF arranges $104 million construction loan for speculative office development in Washington, D.C.

The Washington, D.C. office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it arranged a $104 million construction loan facility for the development of 901 K Street, a 261,000-square-foot trophy office building located in Washington, D.C.’s central business district.

HFF senior managing directors Bill Asbill and Bob Donhauser, and director Cary Abod worked exclusively on behalf of Carr Properties to secure the 36-month loan with a consortium of banks. The facility is co-led by Wells Fargo Bank National Association as administrative agent and PNC Bank National Association as syndication agent. The bank group also includes US Bank National Association and Chevy Chase Bank, F.S.B. Carr Properties owns, operates, acquires and develops commercial office properties in the greater Washington, D.C. area.

Upon completion in the third quarter of 2009, 901 K Street will have 12 stories of Class A office space with floorplates ranging from 15,000 to 23,000 square feet. Upper floors will have floor-to-ceiling windows with 360-degree views and the entire building will be designed to achieve LEED Gold Certification. The property has frontage along 10th and K Streets and Massachusetts Avenue in the East End submarket of Washington, D.C., close to the new Convention Center and three Metro stations.

HFF (NYSE: HF) operates out of 18 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF offers clients a fully integrated national capital markets platform including debt placement, investment sales, structured finance, private equity, note sales and note sale advisory services and commercial loan servicing

Contacts:
WILLIAM S. ASBILL LAURIE FISH MCDOWELL
HFF Senior Managing Director HFF Associate Director, Marketing
(202) 533-2500 (617) 338-0990
wasbill@hfflp.com lmcdowell@hfflp.com