News release

JLL closes $93.2M sale and $67.6M financing of Two Liberty Center

The Class A office building is in Ballston submarket of Washington, D.C.

August 27, 2019

WASHINGTON, D.C., August 27, 2019 – JLL announces that it has closed the $93.2 million sale and $67.6 million financing of Two Liberty Center, a 178,700-square-foot, Class A office property in the Ballston submarket of Northern Virginia.

JLL represented the seller, Westbrook Partners, and procured the buyer, a joint venture between Hines and funds managed by Oaktree Capital Management, L.P. (“Oaktree”). Additionally, JLL worked on behalf of the buyer to secure the seven-year, floating-rate acquisition loan through Bank of America.

Repositioned in January 2019, Two Liberty Center is a nine-story office building featuring 20,500-square-foot typical floor plates, a new building lobby, new spec suites and parking for more than 300 vehicles. The office asset has experienced 145,000 square feet of recent leasing activity and is now 95% leased to 16 tenants. Located at 4075 Wilson Boulevard, Two Liberty Center is positioned in the heart of the Ballston submarket of Northern Virginia, which is home to many transformative developments such as Ballston Quarter and Ballston Exchange that will deliver more than 500,000 square feet of retail and entertainment options, as well as more than 2,000 new residential units in additional projects in the immediate area. Westbrook Partners acquired and completed their business plan for Two Liberty Center inside of two years.

The JLL Capital Markets team representing the seller was led by Senior Managing Directors Andrew Weir and Jim Meisel, Senior Director Matthew Nicholson, Director David Baker and Executive Managing Director Stephen Conley. 

JLL’s Capital Markets team representing the borrower/buyer was led by Senior Managing Director Susan Carras, Senior Director Rob Carey and Director Drake Greer.

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.

For more news, videos and research resources on JLL, please visit the firm’s U.S. media center Web page: U.S. newsroom.

Deal secured by Holliday Fenoglio Fowler LP (“HFF”) prior to being acquired by JLL on July 1, 2019. Co-brokerage services provided by Jones Lang LaSalle Americas, Inc. 

About JLL

JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. Our vision is to reimagine the world of real estate, creating rewarding opportunities and amazing spaces where people can achieve their ambitions. In doing so, we will build a better tomorrow for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.3 billion, operations in over 80 countries and a global workforce of nearly 92,000 as of June 30, 2019. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit

About Westbrook Partners

Westbrook Partners ("Westbrook"), founded in April 1994, is a privately-owned, fully integrated real estate investment management company with offices in New York, Boston, Washington, D.C., Palm Beach, San Francisco, Los Angeles, London, Munich, Paris and Tokyo. Westbrook's professionals are responsible for acquisition, value enhancement, financial accounting and risk management.

About Hines

Hines is a privately owned global real estate investment firm founded in 1957 with a presence in 207 cities in 24 countries. Hines has approximately $116.4 billion of assets under management, including $64 billion for which Hines provides fiduciary investment management services, and $52.4 billion for which Hines provides third-party property-level services. The firm has 109 developments currently underway around the world. Historically, Hines has developed, redeveloped or acquired 1,319 properties, totaling over 431 million square feet. The firm’s current property and asset management portfolio includes 527 properties, representing over 224 million square feet. With extensive experience in investments across the risk spectrum and all property types, and a pioneering commitment to sustainability, Hines is one of the largest and most-respected real estate organizations in the world. Visit for more information.

About Oaktree

Oaktree is a leader among global investment managers specializing in alternative investments, with $120 billion in assets under management as of June 30, 2019. The firm emphasizes an opportunistic, value-oriented and risk-controlled approach to investments in credit, private equity, real assets and listed equities. The firm has over 950 employees and offices in 18 cities worldwide. For additional information, please visit Oaktree’s website at