HFF secures $30 million bridge loan for Tysons Corner office building
Holliday Fenoglio Fowler LP (HFF) said Thursday that it has secured a $30 million bridge loan for a 152,000-square-foot, Class A office building in the Tysons Corner area of McLean.
The building is located at 1550 Westbranch Drive.
Working on behalf of the borrowers, affiliates of Griffith Properties LLC and Rubenstein Partners HFF placed the three-year, floating-rate bridge loan with EagleBank. The loan is being used to finance the acquisition and repositioning of the property.
Westbranch Drive building is situated on a 5.4-acre site close to Tysons Galleria, two Metro stations, Dulles Toll Road, and the new Jones Branch Drive interchange with the I-495 express lanes. According to HFF, shuttle service is planned from the property to the Metro stations and area amenities.
Completed in 2001, the six-story building is fully leased to Mitre Corp. a nonprofit, through late 2016. It includes a conference center, fitness center with shower facilities, café, and a 470-space covered parking garage.
Director Daniel McIntyre led the HFF debt placement team representing the borrower. Based in Washington, D.C., HFF operates 22 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry.