Market Overview

HFF Announces $415M Sale of Washington Harbour in Washington, D.C.'s Georgetown Submarket

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Holliday Fenoglio Fowler, L.P. (HFF) announces the $415 million sale of
Washington Harbour, a 562,105-square-foot, world-renowned mixed-use
project located along the Potomac River in Washington, D.C.'s Georgetown
submarket.

The HFF team represented the seller, Principal Real Estate Investors, on
behalf of a consortium of South Korean investors. Simone Investment and
Hana Alternative Asset Management acted as the managing members of the
consortium. Eyal Ofer's Global Holdings Group purchased the asset free
and clear of existing debt.

The Arthur Cotton Moore-designed project consists of two freestanding,
Class A towers interspersed with a dynamic, experiential year-round
retail and entertainment destination. A $50 million renovation in 2013
delivered new retail and street-level experiences, including the
addition of a fountain with programmable light and water shows in the
spring and summer, which transforms into a 12,000-square-foot ice
skating rink in the fall and winter months. The project is currently 98
percent leased to 31 tenants such as the law firms of Foley & Lardner
and Kelley Drye & Warren, as well as communications and advertising firm
GMMB Inc. Major retail tenants include restaurants such as Fiola Mare,
Farmers Fishers Bakers, Bangkok Joe's, Sequoia, Tony & Joe's Seafood
Place and Nick's Riverside Grill.

The HFF investment advisory team representing the seller included
Stephen Conley, Jim Meisel, Andrew Weir, Matt Nicholson and Dave Baker.

The marketing effort was further supported by CEO Mark Gibson, HFF's
national co-head of investment advisory Manny de Zárraga and HFF's
Global Capital Team comprising Dan Cashdan, Riaz Cassum, Coleman
Benedict and Gerry Rohm.

About Principal Real Estate Investors

Principal Real Estate Investors manages or sub-advises $83.7 billion in
commercial real estate assets*. The firm's real estate capabilities
include both public and private equity and debt investment alternatives.
Principal Real Estate Investors is a dedicated real estate group of
Principal Global Investors, a diversified asset management organization
and a member of the Principal Financial Group®.

*as of 30 June 2018

About Global Holdings Group

Eyal Ofer's Global Holdings Group is a private real estate holding
conglomerate that specializes—directly and with strategic partners—in
large-scale iconic office buildings, hotels and luxury residential
developments, as well as investment and development assets in prime
locations across North America, the United Kingdom and Europe. Global's
current portfolio consists of more than 10 million square feet of real
estate, comprising over 100 properties and approximately 2,500 hotel
rooms. Global's New York City properties include Class A office
buildings such as 120 Park Avenue, 99 Park Avenue, 410 Park Avenue, 875
Third Avenue, and Nomad Tower (1250 Broadway), and iconic residential
developments such as 15 Central Park West, the Greenwich Lane, 520 Park
Avenue, 18 Gramercy Park and 50 United Nations Plaza. More information
regarding Global Holdings Group is available at: https://www.globalholdings-mgmt.com/.

About HFF

HFF and its affiliates operate out of 26 offices and are a leading
provider of commercial real estate and capital markets services to the
global commercial real estate industry. HFF, together with its
affiliates, offers clients a fully integrated capital markets platform,
including debt placement, investment advisory, equity placement, funds
marketing, M&A and corporate advisory, loan sales and loan servicing.
HFF, HFF Real Estate Limited, HFF Securities L.P. and HFF Securities
Limited are owned by HFF, Inc. (NYSE:HF). For more information, please
visit hfflp.com
or follow HFF on Twitter @HFF.

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