HFF Arranges Refinancing for D.C. Multi-Family Property
- Jun 28, 2011
June 28, 2011
By Allison Landa, News Editor
Holliday Fenoglio Fowler L.P. has nailed down an $80.5 refinancing for Allegro Residences, a 297-unit, Class A mult-housing community in Washington, D.C.
HFF worked exclusively on behalf of Federal Capital Partners to secure the 5-year, floating-rate loan through Aareal Capital Corp. The loan proceeds were used to retire existing debt and make partnership distributions.
The HFF team was led by managing director Mark Remington. He said that the transaction was aggressively bid on by the lending community, which proved confirmation of the quality of both the property and the sponsorship.
Allegro is located at 3460 14th St., N.W., near the Columbia Heights metro station. It was completed in 2009 and is 94 percent leased.