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| Bethesda Office Center, 4520 East-West Highway, Bethesda, MD |
WASHINGTON,
D.C. – June 4, 2015 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that
it has closed the sale of and arranged acquisition financing for Bethesda Office Center, a
174,449-square-foot, Class A office building in downtown Bethesda, Maryland.
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| Jim Meisel |
HFF marketed
the property on behalf of the seller, AEW Capital Management, L.P. AEW sold the property on behalf of one of its
separate account investors.
The buyer
purchased the asset for $63.5 million and was assisted by HFF in securing the
fixed-rate acquisition loan through JP Morgan Chase Bank, National
Association.
Bethesda
Office Center is situated on a corner lot at 4520 East-West Highway at the
intersection of East-West Highway and Waverly Street.
This location is just one block from the
Bethesda Metrorail Station and within close proximity to Woodmont Triangle’s
numerous restaurants and the retail offerings at Bethesda Row.
The HFF
investment sales team representing the seller included senior managing
directors Jim Meisel, Dek Potts, Andrew
Weir and Stephen Conley as well as associate director Matthew Nicholson and senior real estate analyst Robert Jenkins.
HFF’s debt
placement team was led by managing director Cary Abod and senior real estate analyst Robert Carey.
“This
offering represented an exceptional opportunity to acquire a value-add,
institutional quality, Class A office building in a highly sought after submarket,”
said Meisel. “We anticipate continued
rental rate growth and increased leasing activity in Bethesda, which has
historically been one of Washington, D.C’s strongest and most stable markets.”
For a complete copy of the company’s
news release, please contact:
Kristen M.
Murphy
Associate
Director
HFF | One
Post Office Square, Suite 3500 | Boston, MA 02109
Main:
617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com
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