CIM Group grants $ 148 million loan for 460,000 square foot office campus in Tysons Corner, Virginia
TYSONS CORNER, Virginia – (COMMERCIAL THREAD) – CIM Group, a community-driven owner, operator, lender and developer of infrastructure and real estate, today announced that a fund managed by CIM has closed a $ 148 million loan to a joint venture between Westbrook Partners and American Real Estate Partners to refinance Highline in Greensboro, a Class A office campus in Tysons Corner, Virginia.
Located at 8401 and 8405 Greensboro Dr. in McLean, Va., Highline at Greensboro consists of two 10-story buildings comprising approximately 461,000 square feet of offices, retail and amenities on the ground floor, and underground parking. 1,333 spaces. The property recently underwent a complete renovation which included improvements to the facade, lobbies and common areas, and the addition of tenant amenities, including a state-of-the-art health club, tenant lounge, outdoor plaza and a conference of 60 people. center.
Highline’s location in Greensboro offers easy access to the Silver Line Spring Hill Metro station and major transportation arteries such as Dulles Toll Road, I-495 and Route 66, and benefits from proximity to downtown Rosslyn, from Washington DC and Dulles International Airport. The property is adjacent to The Boro, the 3.5 million square foot mixed-use development in downtown Tysons.
CIM Group is an active lender that, through its CIM Real Estate Debt Solutions business, recently closed a $ 90.25 million loan for a 247 unit apartment community in Arlington, Virginia. The CIM Group seeks to provide senior and subordinate bridging loans for commercial real estate projects with strong sponsors.
CIM Group applies its extensive experience as owner, operator and developer of all types of commercial real estate to its lending strategy, and believes this helps differentiate the company from many other debt providers. Through mortgages and mezzanine loans, CIM affiliates provide bridge and construction finance to commercial real estate owners and developers in major US markets and work with borrowers to offer a range of solutions. loan.
To learn more about CIM Group’s credit strategies, visit www.cimgroup.com/crecs.
About the CIM Group
CIM is a community-driven owner, operator, lender and developer of infrastructure and real estate. Since 1994, CIM has sought to create value in projects and positively impact the lives of people in communities across the Americas by completing more than $ 60 billion in critical real estate and infrastructure projects. CIM’s diverse team of experts apply their vast knowledge and disciplined approach to the hands-on management of real assets, from due diligence to transactions to divestiture. CIM strives to make a meaningful difference in the world by implementing key environmental, social and governance (ESG) initiatives and improving every community in which it invests. For more information visit www.cimgroup.com.
About Westbrook Partners
Westbrook Partners was founded in 1994 and is a fully integrated global real estate investment firm. Westbrook Professionals have invested more than $ 14 billion of equity in more than $ 50 billion of real estate assets. Westbrook Partners currently invests its eleventh real estate fund with capital commitments of over $ 2.5 billion, over which Westbrook Partners retains full discretion. Westbrook Partners’ investments have included office, industrial, multi-family, commercial and residential buildings.
About American Real Estate Partners
Based in the Greater Washington Metropolitan Area, American Real Estate Partners (AREP) is an institutional fund manager and operating partner focused on office and mixed-use repositioning, residential and data center development throughout the Greater Washington region. Grand Mid-Atlantic.
Since the creation of the company in 2003, AREP has deployed more than $ 4.5 billion in targeted geographic areas. AREP’s vertically integrated real estate platform provides world-class expertise in all property disciplines, from development, asset management and construction operations to investment strategy, market research and acquisitions. By relying on this expertise, AREP remains at the forefront of real estate innovation, maximizing the performance of buildings to offer real value.