A lot of real estate transactions cross our desks at the Washington Business Journal. We can’t devote full stories to them all, but some deserve to be on the record. Welcome to Deal Dash.
Comstock Holding Companies Inc. (NASDAQ: CHCI) has landed a more than $350 million refinancing on the first three towers at Reston Station.
Private equity giant Blackstone funded a $312 million senior loan facility, and DivcoWest brought another $43 million in preferred equity for 1900, 1902 and 1906 Reston Metro Plaza, the three towers that kicked off the 60-acre mixed-use development along the Silver Line corridor. The financing replaces construction financing provided by Bank of America.
The towers are 84% leased to tenants including Google, Rolls Royce and ICF Global. Meanwhile, site work is underway nearby, where Comstock plans to build additional office buildings and a J.W. Marriott hotel. The hotel, which will also include 90 luxury residences, is slated to deliver in 2024.
“Closing…
Read the full story from the Washington Business Journal.
