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HFF Announces $415M Sale of Washington Harbour in Washington, D.C.’s Georgetown Submarket

July 31, 2018

WASHINGTON--(BUSINESS WIRE)--Jul 31, 2018--Holliday Fenoglio Fowler, L.P. (HFF) announces the $415 million sale of Washington Harbour, a 562,105-square-foot, world-renowned mixed-use project located along the Potomac River in Washington, D.C.’s Georgetown submarket.

The HFF team represented the seller, Principal Real Estate Investors, on behalf of a consortium of South Korean investors. Simone Investment and Hana Alternative Asset Management acted as the managing members of the consortium. Eyal Ofer’s Global Holdings Group purchased the asset free and clear of existing debt.

The Arthur Cotton Moore-designed project consists of two freestanding, Class A towers interspersed with a dynamic, experiential year-round retail and entertainment destination. A $50 million renovation in 2013 delivered new retail and street-level experiences, including the addition of a fountain with programmable light and water shows in the spring and summer, which transforms into a 12,000-square-foot ice skating rink in the fall and winter months. The project is currently 98 percent leased to 31 tenants such as the law firms of Foley & Lardner and Kelley Drye & Warren, as well as communications and advertising firm GMMB Inc. Major retail tenants include restaurants such as Fiola Mare, Farmers Fishers Bakers, Bangkok Joe’s, Sequoia, Tony & Joe’s Seafood Place and Nick’s Riverside Grill.

The HFF investment advisory team representing the seller included Stephen Conley, Jim Meisel, Andrew Weir, Matt Nicholson and Dave Baker.

The marketing effort was further supported by CEO Mark Gibson, HFF’s national co-head of investment advisory Manny de Zárraga and HFF’s Global Capital Team comprising Dan Cashdan, Riaz Cassum, Coleman Benedict and Gerry Rohm.

About Principal Real Estate Investors

Principal Real Estate Investors manages or sub-advises $83.7 billion in commercial real estate assets*. The firm’s real estate capabilities include both public and private equity and debt investment alternatives. Principal Real Estate Investors is a dedicated real estate group of Principal Global Investors, a diversified asset management organization and a member of the Principal Financial Group®.

*as of 30 June 2018

About Global Holdings Group

Eyal Ofer’s Global Holdings Group is a private real estate holding conglomerate that specializes—directly and with strategic partners—in large-scale iconic office buildings, hotels and luxury residential developments, as well as investment and development assets in prime locations across North America, the United Kingdom and Europe. Global’s current portfolio consists of more than 10 million square feet of real estate, comprising over 100 properties and approximately 2,500 hotel rooms. Global’s New York City properties include Class A office buildings such as 120 Park Avenue, 99 Park Avenue, 410 Park Avenue, 875 Third Avenue, and Nomad Tower (1250 Broadway), and iconic residential developments such as 15 Central Park West, the Greenwich Lane, 520 Park Avenue, 18 Gramercy Park and 50 United Nations Plaza. More information regarding Global Holdings Group is available at: https://www.globalholdings-mgmt.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.

View source version on businesswire.com:https://www.businesswire.com/news/home/20180731005930/en/

CONTACT: HFF

STEPHEN CONLEY, (202) 533-2500

DC Lic. #PB98368150

HFF Executive Managing Director

sconley@hfflp.com

or

MATT NICHOLSON,(202) 533-2500

DC Lic. #SP98369865

HFF Director

mnicholson@hfflp.com

or

KRISTEN MURPHY, (617) 338-0990

HFF Director, Public Relations

krmurphy@hfflp.com

KEYWORD: UNITED STATES NORTH AMERICA DISTRICT OF COLUMBIA

INDUSTRY KEYWORD: PROFESSIONAL SERVICES FINANCE CONSTRUCTION & PROPERTY COMMERCIAL BUILDING & REAL ESTATE RESIDENTIAL BUILDING & REAL ESTATE

SOURCE: HFF

Copyright Business Wire 2018.

PUB: 07/31/2018 04:20 PM/DISC: 07/31/2018 04:20 PM

http://www.businesswire.com/news/home/20180731005930/en

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