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BIRMINGHAM, Ala., Feb. 28, 2019 (GLOBE NEWSWIRE) -- Harbert United States Real Estate Fund VI, L.P. (“HUSREF VI”), in conjunction with BoundTrain Real Estate (“BoundTrain”), recently acquired 6400 and 6402 Arlington Boulevard, two prominent office towers totaling over 400,000 square feet in Falls Church, Virginia, near the District of Columbia.
BoundTrain and HUSREF VI closed on the property on February 22, 2019 and intend to implement a major rebranding and refreshing of the property. Planned improvements include adding a tenant lounge, modernizing the conference center and fitness center, and activating the plaza and outdoor spaces. The property is located within the Falls Church submarket of the Washington D.C. MSA, and is uniquely positioned to meet tenant demand in the improving Northern Virginia office market.
About BoundTrain Real Estate
BoundTrain is a private real estate investment firm, founded by Michael A. Klein in 2018 to pursue value-add and opportunistic real estate transactions throughout the Washington D.C. market, along with select other markets in the Eastern U.S. BoundTrain is an entrepreneurial firm with a stated goal to find and execute on sound long-term real estate opportunities by utilizing its market knowledge and resources, strategic top down and bottom up approach to selecting opportunities and markets, data-driven analysis, and rigorous underwriting. The results will be a high-level of service to both tenants and clients and excellent returns to investors.
About Harbert Management Corporation
HUSREF VI is sponsored by Harbert Management Corporation (“HMC”). HMC, together with its sponsored funds, has owned, developed and managed multifamily, office, industrial, retail, self-storage, and mixed use properties throughout the United States. HMC has a history of identifying real estate investment opportunities through its network of long-term, strategic relationships. HUSREF VI’s approach is hands-on, targeting properties that the HUSREF VI Investment Team believes are undervalued, and where value can be created through focused operational management. HMC has approximately $6.4 billion in regulatory assets under management as of January 31, 2019. Additional information about HMC can be found at www.harbert.net.
Contact: HMC Investor Relations
A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/a5952934-80ae-4e6c-9184-976e47520794