NEW YORK, NY – Holliday Fenoglio Fowler, L.P. (HFF) announces $95.5 million in acquisition financing for Meridian at Carlyle, a 16-story, 403-unit apartment building in Alexandria, Virginia.
The HFF team worked on behalf of a joint venture, which includes Lincoln Property Company (LPC), to place the five-year, floating-rate acquisition loan with MetLife Investment Management.
Meridian at Carlyle is located at 401 Holland Lane in Alexandria’s Carlyle neighborhood. The property is adjacent to a Whole Foods Market, within walking distance to the King Street Metro station and surrounded by more than two million square feet of retail and restaurants and 5.6 million square feet of office space. Meridian at Carlyle features units averaging 779 square feet, three levels of below-grade parking and amenities, including a resort-style pool, barbecue area, putting green, fitness center, club room with billiards, concierge service and on-site dry cleaning service.
The HFF debt placement team representing the borrower included managing directors Steven Klein and Cary Abod.
“The soon-to-be ‘Lincoln at Old Town’ represents an opportunity to reposition a high-rise multifamily community in an attractive, transit-oriented location with the ability to create value through execution of interior unit renovations and common area amenity upgrades,” said LPC’s Jarl Bliss, executive vice president Mid-Atlantic. “This property is a great addition to our value-add portfolio, and we have strong performance expectations for both the property and the market in the long-term.”
About Lincoln Property Company: Founded in Dallas, Texas, in 1965, LPC is a full-service, vertically integrated institutional investment and property services platform with offices in the United States and Europe. Since 1965, Lincoln has acquired and developed approximately $35 billion of residential and commercial property. LPC currently manages 356 million square feet of commercial property and 190,542 multifamily residential units for over 100 separate clients worldwide. For more information, please visit lpc.com.
About HFF: HFF and its affiliates operate out of 26 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.