WASHINGTON, DC — Holliday Fenoglio Fowler, LP (HFF) announced that it has arranged $32 million in financing for Kennedy Row, a 141-unit, class A multi-housing property in Washington, DC’s Capitol Hill neighborhood.
HFF worked on behalf of the borrower, a joint venture between TRITEC Real Estate Company and The JBG Companies, to place the seven-year, floating-rate loan with HSBC Bank. Loan proceeds were used to refinance existing construction debt on the property.
Kennedy Row is located at 1717 East Capitol St., SE across the street from the newly-renovated Eastern Senior High School and in close proximity to neighborhoods such as Capitol Hill, Eastern Market, H Street Corridor and Barracks Row. Completed in 2013, the property is 94% occupied and has a variety of studio, one- and two-bedroom units. Community amenities include a rooftop terrace with outdoor living and dining areas, on-site fitness center, pet cleaning station, bike storage, underground parking and immediate access to the metro.
The HFF debt placement team representing the borrower was led by Michael Gigliotti, Sue Carras, Walter Coker and Brian Crivella.