HFF Announces Financing Totaling $115.4M for Mixed-Use Development in Northern Virginia
February 20 2018 - 4:17PM
Business Wire
Holliday Fenoglio Fowler, L.P. (HFF) announces $115.4 million in
construction financing and preferred equity for Scout® on the
Circle, a 551,000-square-foot, mixed-use residential and retail
development in Fairfax, Virginia.
The HFF team worked exclusively on behalf of the developer,
Combined Properties, Incorporated, to arrange a $100 million,
floating-rate construction loan and $15.4 million in preferred
equity.
Scout® on the Circle will be a premier mixed-use community with
three individual buildings: a 54,000-square-foot, single-story
grocery store on the eastern corner of the property with prominent
signage and frontage on Fairfax Boulevard/Route 50 and Blake
Lane/Route 655 along with two five-story luxury apartment buildings
above ground-floor retail podiums encompassing a total of 400
apartments and approximately 29,000 square feet of retail. The
property will be located one mile from the Vienna Metrorail
station, 3.6 miles from the 817-acre George Mason University campus
and 20 miles from Washington, D.C.’s CBD. Units will offer
residents high-end fixtures and finishes, stainless steel
appliances, quartz countertops, kitchen islands, plank flooring,
private outdoor terraces or balconies, keyless entry, full-size
washers and dryers, and walk-in closets. In addition to the retail
component and transit-oriented location, amenities will include a
lobby lounge with coffee bar, business center with three separate
meeting areas, club room with fireplace, screening room, pool
table, fitness center and outdoor dog park. The community will also
feature two outdoor courtyards incorporating a swimming pool,
grilling areas, fire pits, outdoor dining areas, shuffleboard, open
green spaces with water features and an outdoor ping pong table.
The project is due for completion in 2021.
The HFF team representing the developer included Susan Carras,
Walter Coker, Brian Crivella, John Owendoff and Jordan Lex.
About Combined Properties,
Incorporated
Combined Properties, Incorporated has a $1 billion portfolio
comprised of 39 retail and mixed-use properties totaling 4.8
million square feet and a $1.4 billion development pipeline in the
Washington, D.C. and Southern California metropolitan areas. Since
its founding by Chairman Ronald S. Haft, Combined Properties has
always looked for the true potential of a commercial property. The
company strives to apply its expertise in development, finance,
leasing and asset management to shape projects into innovative
retail and residential environments that instill pride in the
people that live and shop there. For more information, visit:
http://www.combined.biz/.
About HFF
HFF and its affiliates operate out of 25 offices and are a
leading provider of commercial real estate and capital markets
services to the global commercial real estate industry. HFF,
together with its affiliates, offers clients a fully integrated
capital markets platform, including debt placement, investment
advisory, equity placement, funds marketing, M&A and corporate
advisory, loan sales and loan servicing. HFF, HFF Real Estate
Limited, HFF Securities L.P. and HFF Securities Limited are owned
by HFF, Inc. (NYSE: HF). For more information, please visit
hfflp.com or follow HFF on Twitter @HFF.
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version on businesswire.com: http://www.businesswire.com/news/home/20180220006218/en/
HFFWALTER COKER, (202) 533-2500VA Lic.
#0225092459HFF Managing Directorwcoker@hfflp.comorBRIAN
CRIVELLA, (202) 533-2500VA Lic. #0225188521HFF Senior
Directorbcrivella@hfflp.comorOLIVIA HENNESSEY, (713)
852-3500HFF Public Relations Specialistohennessey@hfflp.com
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