HGI Announces Major Financing for Office Development Project
HGI Supports Office Building Renovation with Senior Loan
The HGI-funded senior loan is aimed at enhancing capital improvement programs and boosting leasing activity for a key property.
Details of the Financing
Harbor Group International, LLC (HGI) has announced a substantial **$38.3 million** senior loan to Kairos Investment Management Company. This financing is designated for refinancing existing debt and funding capital improvements at 1250 Eye Street, an impressive 12-story office building located in a vital area known for its urban appeal.
About the Property
Acquired by Kairos recently, 1250 Eye Street spans **180,000 rentable square feet**. The building boasts unobstructed views of a prominent city park, enhancing its attractiveness to potential tenants.
Planned Enhancements and Improvements
With the new financing, Kairos plans to introduce a luxurious **12th-floor tenant amenity suite**. This suite, designed by the renowned architectural firm Gensler, will feature an upscale hospitality lounge, state-of-the-art conference center, bar/kitchen area, and a terrace for relaxation and networking.
Further Development Plans
In addition to enhancing amenities, Kairos is committed to expanding move-in ready office spaces and upgrading significant areas such as the lobby, gym, bike room, and parking facilities. These renovations are aimed at creating an engaging environment that meets the modern tenant's requirements.
Market Dynamics and Demand
Michael Nathan, Chief Investment Officer for Harbor Group International, noted that there is growing momentum in the Class A office sector, particularly for properties that offer exceptional amenities in prime urban locations. The financing is envisioned as integral to a thoughtful renovation plan that aligns with demand fundamentals and high-quality sponsors.
Strategic Location Benefits
This office building is ideally located near key landmarks, which is expected to generate significant interest among potential tenants. Its proximity to popular destinations enhances its appeal, promising increased leasing activity.
Statements from Leadership
Jonathan Needell, President & Chief Investment Officer at Kairos, expressed gratitude for HGI's support in repositioning 1250 Eye Street as a leading office destination. He emphasized that these renovations are designed to attract tenants and create long-term value.
About Harbor Group International
Harbor Group International, LLC is an established player in real estate, managing an investment portfolio worth approximately **$20 billion**. This portfolio includes a significant number of residential and commercial units spread across the U.S. and the U.K., with operational offices in major cities.
About Kairos Investment Management Company
Kairos Investment Management Company focuses on identifying investment opportunities with appealing risk-adjusted returns. With assets under management totaling **$4.3 billion**, their seasoned team brings over 30 years of experience to navigating acquisitions and property management.
Media Contact
For inquiries, you can reach out via email at Pro-hgi@prosek.com.
Frequently Asked Questions
What is HGI's role in this financing?
HGI provides a significant senior loan to support renovations and leasing activities for 1250 Eye Street.
What improvements are planned for the office building?
Upgrades include a new tenant amenity suite and enhancements to office areas and common spaces.
What is the significance of the building's location?
Its location near major landmarks enhances desirability, attracting strong tenant interest.
Who designed the new amenity suite?
The suite is designed by Gensler, one of the leading architectural firms.
What experience does Kairos Investment Management have?
Kairos has an experienced investment team with an average of 30 years across various real estate sectors.
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