WASHINGTON, DC – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has arranged joint venture equity and construction financing for the development of Woodfield Dulles Station, a 400-unit, Class A multi-housing property adjacent to the future Innovation Center Metro station in Herndon, Virginia.
HFF worked on behalf of the developer, Woodfield Investments, to arrange joint venture equity from an undisclosed capital partner. U.S. Bank provided a $69 million construction loan.
Woodfield Dulles Station is part of Dulles Station, a 63-acre, mixed-use, master planned community providing a walkable live-work-play lifestyle. In addition to its location directly adjacent to the future Innovation Center Metro station, the transit-oriented property will be situated just off the Dulles Toll Road and Route 28 interchange and approximately five miles from Reston Town Center, 14 miles from Tysons Corner and five minutes from Dulles International Airport. Due for completion in 2017, the five-story, NBGS Silver-certified, eco-conscious property will have studio, one- and two-bedroom units averaging 850 square feet each. Community amenities will include a resort-style swimming pool; gourmet outdoor kitchen spaces; rooftop multi-amenity deck; professional-grade fitness center; state-of-the-art conference space; computer lounge; coffee bar; and direct-access, secured parking garage.
The HFF multi-housing team representing the developer was led by Walter Coker and Brian Crivella.
About Woodfield Investments: Woodfield Investments is a premier developer and operator of Class A multifamily communities in the Mid-Atlantic and southeastern United States. The partners in Woodfield share a depth of experience in development, asset management and real estate capital markets. Since the formation of the company in 2005, Woodfield has completed 23 communities, has 9 communities under construction and 13 projects at various stages of entitlement and design. From the first development and each one thereafter, Woodfield Investments’ singular goal has been to deliver well-conceived, thoughtfully designed, market-supported projects that hit the mark and then some. With a track record that stands alone, Woodfield Investments sets out to assemble the best team of designers, consultants, architects, contractors and capital sources – every project, every time.
About HFF: HFF and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 22 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing. For more information please visit hfflp.com or follow HFF on Twitter @HFF.