{"id":1004127518,"date":"2015-09-16T06:06:27","date_gmt":"2015-09-16T14:06:27","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=360493"},"modified":"2022-12-08T00:47:35","modified_gmt":"2022-12-08T08:47:35","slug":"hoffman-madisons-wharf-project-ready-to-dock-in-d-c","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/hoffman-madisons-wharf-project-ready-to-dock-in-d-c\/","title":{"rendered":"Hoffman-Madison\u2019s Wharf Project Ready to Dock in D.C."},"content":{"rendered":"<p style=\"text-align: justify\"><em>By Adrian Maties, Associate Editor<\/em><\/p>\n<p style=\"text-align: justify\">Good news for Hoffman-Madison Waterfront. The master developer of the massive Wharf waterfront development project in Washington, D.C. announced that it has secured $400 million in construction financing for the $1.2 billion first phase of the project.<\/p>\n<div id=\"attachment_360501\" class=\"wp-caption alignleft\" style=\"width: 615px\"><a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/09\/The-Wharf.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-360501  \" title=\"The Wharf\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/09\/The-Wharf.jpg\" alt=\"The Wharf\" width=\"605\" height=\"121\" \/><\/a><\/p>\n<p class=\"wp-caption-text\">The Wharf<\/p>\n<\/div>\n<p style=\"text-align: justify\">Hoffman-Madison, a partnership between <a href=\"https:\/\/www.pnhoffman.com\/\">PN Hoffman Construction Development<\/a> and <a href=\"https:\/\/madisonmarquette.com\/\">Madison Marquette<\/a>, was represented in the deal by legal teams from <a href=\"https:\/\/www.pillsburylaw.com\/\">Pillsbury Winthrop Shaw Pittman<\/a> and <a href=\"https:\/\/www.cooley.com\/index.aspx\">Cooley LLP<\/a>, with <a href=\"https:\/\/www.eastdilsecured.com\/index.htm\">Eastdil Secured<\/a>\u2019s Nick Seidenberg and Michael Zelin acting as financial advisors.<\/p>\n<p style=\"text-align: justify\">The $400 million in financing came from Wells Fargo\u2014acting as administrative agent,\u00a0Bank of America, SunTrust, and a syndicate comprised of M&amp;T Bank, United Bank and BB&amp;T. Troutman Sanders represented Wells Fargo and Bank of America.<\/p>\n<p style=\"text-align: justify\">\u201cThe Wharf is the Washington region\u2019s premier, mixed-use waterfront project being developed by a best-in-class sponsorship,\u201d Joe Carter, executive vice president &amp; division manager for Wells Fargo\u2019s Washington commercial real estate office, said in a statement. \u201cWe are excited to lead the financing, which includes a bank group with strong ties to the local community, in a project of this stature.\u201d<\/p>\n<p style=\"text-align: justify\">\u201cWe could not be more pleased with the execution of this transaction led by Joe and the teams at Wells Fargo, Bank of America, SunTrust and the syndicated banks,\u201d PN Hoffman founder &amp; CEO Monty Hoffman added. \u201cCompleting this last element of the capital stack for Phase I ensures the timely completion of what is sure to be the most active and exhilarating waterfront destination in the Greater Washington Region.\u201d<\/p>\n<p style=\"text-align: justify\">Phase I of The Wharf is scheduled for completion in 2017. The project will deliver about 1.4 million square feet of mixed-use space, including two office buildings, three hotels, two apartment buildings, two condominium buildings, a 3-acre park, tens of thousands of square feet of retail space and more.<\/p>\n<p style=\"text-align: justify\"><em>Photo via <a href=\"https:\/\/www.wharfdc.com\/\">The Wharf DC<\/a><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>D.C.&rsquo;s world-class Wharf waterfront development has secured $400 million in construction financing.<\/p>\n","protected":false},"author":925,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21742,1615],"tags":[],"class_list":["post-1004127518","post","type-post","status-publish","format-standard","hentry","category-latest","category-washington-dc"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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