Washington, DC – Cassidy Turley, a leading commercial real estate services provider in the U.S., announced today that it has arranged financing totaling $30 million for 5635 Fishers Lane in Rockville, MD.
Executive Managing Director John Campanella and Vice President Paul Spellman of Cassidy Turley arranged the financing on behalf of The JBG Companies. The financing was provided by one of the nation’s leading debt funds.
“This is a classic example of how competitive the debt funds are in today’s marketplace. In many cases, the debt funds are as competitively priced as the banks, while providing borrowers with more flexibility and higher leverage,” commented Mr. Campanella.
5635 Fishers Lane is a Class A, 184,638 square foot office property located in Rockville, MD within walking distance to the Twinbrook Metrorail station (Red Line) and numerous retail, restaurants, and hotel amenities. It offers tenants accessibility to Rockville Pike (Route 355), I-270 and the Capital Beltway (I-495). The building is 100% leased to five tenants and is anchored by the National Institutes of Health (NIH), which occupies 66% of the building.
The JBG Companies acquired the building through a joint venture in 2005, which is situated within a cluster of GSA-occupied buildings totaling over 2.3 million square feet.
About The JBG Companies
The JBG Companies is an active investor, owner and developer in the Washington metropolitan area’s real estate market. Founded in 1960, it has developed, owned or managed, over 30 million square feet of office, 5.5 million square feet of retail space, 15,000 residential units, and 16 hotel properties totaling over 5,500 rooms. Currently responsible for the development and or redevelopment of approximately 6.2 million square feet of office space, 1.0 million square feet of retail space, 9,600 multi-family units and 775 hotel rooms throughout the Washington Metropolitan area.
About Cassidy Turley
Cassidy Turley is a leading commercial real estate services provider with more than 4,000 professionals in more than 60 offices nationwide. With headquarters in Washington, DC, the company represents a wide range of clients—from small businesses to Fortune 500 companies, from local non-profits to major institutions. The firm completed transactions valued at $25.8 billion in 2013, manages approximately 400 million square feet on behalf of institutional, corporate and private clients and supports more than 24,000 domestic corporate services locations. Cassidy Turley serves owners, investors and tenants with a full spectrum of integrated commercial real estate services—including capital markets, tenant representation, corporate services, project leasing, property management, project and development services, and research and consulting. Cassidy Turley enhances its global service delivery outside North America through a partnership with GVA, giving clients access to commercial real estate professionals in 65 international markets. Please visit www.cassidyturley.com for more information about Cassidy Turley.