If you don't see images, click here to view
To ensure delivery, please add mark@bisnow.com to your address book, learn how
Story Ideas  Events 
Subscribe | Forward to a Friend
Real Estate Bisnow
Legal BisnowWomen BisnowTech BisnowAssociation BisnowNYC Real Estate
March 17, 2008


Big shout-out to sponsor Jones Lang LaSalle. In the DC Region, JLL has more than 25M SF of leased space and 18M of managed. They're going strong with 901 K St, 901 15th St, 1801 K St, National Gateway, and Mission Ridge at Westfields.


We thought with Bear Stearns imploding, we needed a little pick-me-up. So who better to talk to than HFF? After a record year in 2007 with over $5B in investment sales and debt placement, Holliday Fenoglio Fowler's John Duffy and Stephen Conley don't see 2008 as a downturn market, but, rather, a blip, a pause, maybe even a slowdown. But doomsday?  Hardly. When we paid a visit to HFF's Eye Street office the other day, the firm's DC leadership told us that HFF, which finances (with very sophisticated structures) and sells office buildings on behalf of owners like insurance companies and banks, actually managed to close the sale of 1111 19th Street and 1333 H Street in just the first 60 days of '08.


John and Steve, who met back in the day at Carey Winston, have been business partners for 18 years.  The duo started HFF's DC office in '99 with a crew of six. Now, they're 30 strong, and Steve says in some sense always hiring:  "If the right person shows up, we'll find room." 


Seven DC senior producers: Mark Remington, Bill Asbill, Jim Meisel, John, Steve, and Dek Potts.  (What do you know, it's only six above: Bob Donhauser had the flu.)  The guys tell us there's an investment banking camaraderie. After a late night at the office, it's typical to find them sitting down for a post-work pow-wow at BLT Steak. On average, over the past five years, HFF's DC office has helped clients secure over $1.4B in debt annually.  And despite the fact they used to get 80% LTV loans, they're still getting 65-70%. Since it's now a rare lender that will hold more than $50M on the books, they have to close deals quickly. This environment has forced HFF to get creative. But they're not gloomy, insisting that this market is "just part of the cycle."  John says that unlike '89 and '90, the "vulture mentality" isn't happening.


Dek and Jim show off HFF's shiny silver letters in the lobby which is upstairs from the New York Times' DC digs.  Dek tells us he's already looking forward to the June Homestead trip, when the DC office takes 30 clients for a 3-day golf school.




At the suggestion of our friend Henry Fonvielle of our sponsor Rappaport, here's a great event for any of your tennis, tech, or children's education fans:  Andre Agassi and Steve Case will be the guests of honor at the 2008 fundraiser for the Washington Tennis and Education Foundation, April 11Click here for details



Reznick Group
Jones Lang LaSalle
Cardinal Bank
Top Space Directory
CONTACT EDITORIAL                             CONTACT ADVERTISING                              CONTACT GENERAL INFO

This newsletter is a journalistic news source which accepts no payment for featured interviews. It is supported by conventional advertisers clearly identified in the right hand column. You have been selected to receive it either through prior contact or professional association. If you have received it in error, please accept our apologies and unsubscribe at bottom of the newsletter. 2008, Bisnow on Business, Inc., 2300 N Street, NW Washington, DC 20037. All rights reserved.

| Subscribe
| Forward to a Friend