Aug
22
Arlington Office Complex Secures $97M Refi
ByHFF arranged the refinancing for Sequoia Plaza on behalf of Foulger Pratt.
Sequoia Plaza, Arlington, Va.
Arlington, Va.—Foulger Pratt has received $97 million in refinancing for Sequoia Plaza, a three building, Class A office complex totaling 369,215 square feet in Arlington, Va.
HFF secured the money for Foulger Pratt, with a three-year, floating-rate loan with Aareal Capital Corp.
“Sequoia Plaza offers an institutional-quality office campus located in the center of Arlington county, making it the ideal home for the essential public services that anchor-tenant Arlington county provides to its constituents on the premises,” Cary Abod, HFF managing director, told Commercial Property Executive. “The combination of the long-term lease with Arlington county, the tenant’s extraordinary creditworthiness, and rent growth opportunities from new leasing and contractual rent increases made this a highly sought after financing opportunity.”…
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