$116.1 million refinancing arranged by HFF for Century Center I and II in Arlington, Virginia

The Washington, D.C. office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it arranged a $116.1 million refinancing for Century Center I and II, a 624,573-square-foot office project in Arlington, Virginia.

Working exclusively on behalf of Lowe Enterprises, HFF senior managing directors Bob Donhauser and William Asbill and director Cary Abod placed the three-year adjustable-rate loan with GE Real Estate. Loan proceeds were used to repay the original loans and provide financing to complete the current renovation project. This is the second financing of a Washington, D.C. area office building that HFF has secured for Lowe Enterprises in 2008.

Century Center I and II is located at 2450 Crystal Drive and 2461 South Clark Street four blocks south of the Crystal City Metrorail station in Arlington, providing access to downtown Washington, D.C., the Pentagon and Reagan National Airport. Century Center I has 389,188 square feet and Century Center II has 235,385 square feet of office space. The properties share a three-level, 2,025-space underground parking garage.

“The borrower has spent the last two years completely renovating the building systems and infrastructure and refurbishing lobbies and public spaces to meet the standards of today’s demanding tenants,” said Donhauser. “The next phase of the renovation consists of a major retail repositioning whereby the existing ground-level space will be transformed into a dynamic amenity-rich retail destination.”

Lowe Enterprises is a leading national real estate investment, development and management firm. The firm currently manages in excess of $6 billion of investments on behalf of its investment clients and partners.