Tamares, Atlantic Realty To Negotiate Loan Extension For Plaza America Towers 1–4

(July 7, 2025) Press Release Stream Realty Partners

TYSONS, VA – July 7, 2025 – In a proactive move to strengthen the long-term financial structure of the 965,000-square-foot Plaza America office campus in Reston, Virginia, Tamares Group and Atlantic Realty Companies have engaged Iron Hound Management to begin loan extension negotiations across all four buildings.

Plaza America Towers 1–4, located at 11700, 11710, 11720, and 11730 Plaza America Drive, are currently split across two loans. Towers 3 and 4, which were successfully extended for two years in late 2023, still have two one-year options remaining. Towers 1 and 2 are also approaching loan maturity.
To guide this effort, ownership has retained Iron Hound Management—an industry-leading real estate capital advisory firm—to help structure a long-term solution across both loans. Known for its experience working with institutional lenders, Iron Hound brings deep expertise in aligning capital strategies with ownership goals. As part of the process, ownership has formally requested to move the properties into special servicing—a standard procedural step with negotiating new loan terms. This move is not indicative of financial distress; Plaza America’s loans are current, and the property remains financially stable and well-leased. Initiating this process well ahead of loan maturity ensures maximum flexibility to support future investment in the campus and long-term tenant needs.

“Moving into special servicing is a proactive and strategic step to secure long-term stability at Plaza America,” said Jeff Roman, Co-Managing Director at Stream Realty Partners. “With limited trophy office space remaining in the area, this campus is exceptionally well-positioned within the Dulles Corridor, and we continue to see meaningful leasing momentum that supports ownership’s long-term investment strategy.”

“We’re proud to have completed substantial renovations across the campus, including a new lobby, upgraded elevator cabs, and a best-in-class conference center and lounge in Tower 3,” said Itrat Sayeed, Managing Director of Tamares Group, the majority owner of Plaza America. “These enhancements demonstrate our commitment to this asset and our belief in its continued success as a top-tier workplace destination in Northern Virginia.”

“Plaza America remains a key asset within our portfolio, and we are committed to its long-term success,” said David Ross, Partner and President of Atlantic Realty Companies. “As we move through the loan extension process, we look forward to making additional capital investments that will further elevate the tenant experience and ensure the campus continues to meet the evolving needs of today’s office users.”

Located directly along the Dulles Toll Road, Plaza America offers unmatched connectivity and convenience with immediate access to retail, transit, and outdoor amenities. The campus is adjacent to the Plaza America Shopping Center and within close proximity to the W&OD Trail, creating an amenity-rich environment tailored to today’s modern workforce. Leasing options range from 1,990 square feet to a maximum contiguous block of 178,143 square feet, providing opportunities for tenants of all sizes to find space that suits their needs.

Stream Realty Partners, a national commercial real estate firm offering an integrated platform of services, handles the leasing for the property. The team includes Jeff Roman, Co-Managing Director Erik McLaughlin, and Executive Vice Presidents Carter Byrnes and Malcolm Schweiker.

For more information, please contact Stream Northern Virginia at 703.997.2200.

About Stream Realty Partners
Stream Realty Partners is a national commercial real estate firm offering an integrated platform of leasing, investment and development services. This includes tenant and landlord representation, Legendary CX property management, capital markets, investment management and sales, construction, construction management, national program management, workplace strategies, strategic marketing, and dedicated research. The company is headquartered in Dallas with operations in core markets coast to coast. Since 1996, Stream has grown to more than 1,550 professionals and now completes annual transactions valued at more than $8.9 billion in office,
industrial, retail, healthcare, land, and data center properties. For information, visit www.streamrealty.com and follow Stream on LinkedIn, Instagram, X, and Facebook.