DC-Area Office Campus Lands $104M Financing
Following the acquisition of Greensboro Park in Tysons, Va., Velocis and Altus Realty will use the five-year loan to fund the purchase price.
By Corina Stef
Greensboro Park, Tysons, Va.
A joint venture between Velocis and Altus Realty has received $104 million in financing for the post-acquisition of Greensboro Park, a 505,085-square-foot office campus in Tysons, Va. The partnership acquired the property earlier this month from Beacon Capital Partners. JP Morgan Chase & Co. provided the five-year, floating-rate loan.
The office park encompasses two buildings located at 8180 and 8200 Greensboro Drive. The assets were completed in 1980 and 1987, respectively, and underwent renovations in 2015. Amenities include a fitness center, conference facilities, tenant lounges, on-site café and concierge service. The property is 83 percent occupied by 59 tenants, the anchor one being BB&T.
The transit-oriented Greensboro Park offers easy access to Washington, D.C. and neighboring areas via the Greensboro Metro and Tysons Corner stations, as well as major roads including Leesburg Pike and the Dulles Access Toll Road. Multiple retail options including The Boro, Tysons Central, Tysons Galleria and Tysons Corner Center are situated within walking distance.
HFF represented the borrower in the transaction.
Image courtesy of Velocis
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