HFF finances $115.4m for mixed-use community development in Virginia

21 February 2018 (Last Updated February 21st, 2018 12:16)

Holliday Fenoglio Fowler (HFF) has provided $115.4m of construction financing and preferred equity to develop 551,000ft² mixed-use residential and retail buildings in Fairfax, Virginia, US.

Holliday Fenoglio Fowler (HFF) has provided $115.4m of construction financing and preferred equity to develop 551,000ft² mixed-use residential and retail buildings in Fairfax, Virginia, US.

Called Scout® on the Circle, the project will be developed by real estate firm Combined Properties. HFF has also arranged a $100m floating-rate construction loan and $15.4m in preferred equity on behalf of Combined Properties.

The three buildings will include a 54,000ft² single-storey grocery store and 400 luxury apartments.

“Called Scout® on the Circle, the project will be developed by real estate firm Combined Properties.”

The residential units will feature fixtures and finishes, stainless steel appliances, quartz countertops, kitchen islands, plank flooring, private outdoor terraces or balconies, keyless entry, full-size washers and dryers, and walk-in closets.

A lobby lounge and coffee bar will also be built, as well as a business centre with three separate meeting areas, a club room, a screening room, a pool table, a fitness centre and an outdoor dog park.

Expected for completion in 2021, the project will also feature two outdoor courtyards with a swimming pool, grilling areas, fire pits, outdoor dining areas, a shuffleboard and open green spaces.

Established in 1984 by Ronald Haft, Combined Properties is headquartered in Washington, DC, with a portfolio of 44 properties and an active development pipeline.

With operations in 25 locations, HFF provides commercial real estate and capital markets services to the global commercial real estate industry.