DARPA’s future headquarters in Arlington gets financing
- January 11, 2011
The Washington, D.C., office of HFF (Holliday Fenoglio Fowler LP) has arranged a $100 million permanent loan for the 355,000-square-foot future headquarters of the Defense Advanced Research Projects Agency (DARPA) in Arlington.
HFF said in a statement Tuesday that Prudential Mortgage Capital Co., the commercial mortgage lending business of Prudential Financial, agreed to an 18-month forward commitment for a 15-year, fixed rate loan. HFF worked exclusively on behalf of the borrower, Ashton Park Associates I LLC. DARPA is the research and development office of the U. S. Department of Defense.
The headquarters project is the first phase of Founders Square, 1.2 million-square-foot mixed use development across from Ballston Common Mall in the Rosslyn-Ballston corridor. The Shooshan Co. is handling the development while Clark
Construction Group is the general contractor.