Done Deals: HFF Secures $80M Financing for North Bethesda, MD Class A Office Buildings

Thursday, May 8, 2008

HFF Secures $80M Financing for North Bethesda, MD Class A Office Buildings

WASHINGTON, D.C.--The Washington, D.C. office of HFF (Holliday Fenoglio Fowler, L.P.) has secured $80 million in financing for Rockwall I and II, Class A office buildings (above photo) totaling 345,885 square feet in Bethesda, Maryland.

Working

exclusively on behalf of The JBG Companies, HFF senior managing directors Bob Donhauser and Bill Asbill and director Cary Abod (top right photo) placed the five-year, fixed-rate loan with ING Real Estate for the acquisition of the properties.

Headquartered in Chevy Chase, Maryland, The JBG Companies is an active developer, owner

and operator of office, residential, hotel and retail properties with more than $10 billion in assets under management and development.

Founded in 1960, JBG has established a reputation as one of the leading real estate companies in the Washington metropolitan area.

Rockwall I and II are located at 11400 Rockville Pike and 5515 Security Lane across from the White Flint Mall (photo at left) and close to the Montgomery Count

y Convention Center in North Bethesda. The properties are 89% leased with the largest tenant, the Food and Drug Administration, leasing 40% of the space.

“Tight conditions in Bethesda are increasing rental rates and driving additional demand in the North Bethesda submarket,” said Donhauser. “Rockwall I and II are ideally positioned on the Rockville Pike, a major Washington, D.C. thoroughfare, as well as being located close to a Metro station stop and adjacent to the North Bethesda Market, a to-be-built premier lifestyle center.”

CONTACTS:

Laurie Fish McDowell