HFF Secures $191.8M Financing for Bryant Street Development in Washington, D.C.
HFF (HF)
Last hff earnings: 4/24 04:15 pm
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US:NYSE Investor Relations:
phx.corporate-ir.net/phoenix.zhtml?c=205281&p=irol-irhome
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Source: Business Wire
WASHINGTON--(BUSINESS WIRE)-- Holliday Fenoglio Fowler, L.P. (HFF) announces it has secured joint venture equity and construction financing totaling $191.8 million for the development of Phase I of Bryant Street, a mixed-use, transit-oriented development in northeast Washington, D.C. HFF worked on behalf of the developer, MRP Realty, to arrange a $59.8 million joint venture equity partnership with FRP Development Corp. Working on behalf of the new partners, HFF also secured $132 million in construction financing through a national bank. Bryant Street is being developed near the intersection of Rhode Island Avenue and Fourth Street adjacent to the Rhode Island Metro Station (Red Line) and the Metropolitan Branch Trail, a multiuse pedestrian/cycling path that is used by more than 1,200 commuting cyclists daily. The project is situated within the high-barrier-to-entry neighborhood of Edgewood betwee
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