Cassidy Turley Secures $57 Million Construction Financing for Carr Properties’ Trophy Office Development in Downtown Bethesda, MD

Published on August 01, 2012


 WASHINGTON, DC - Cassidy Turley, a leading commercial real estate services provider in the U.S., announced today that it secured on behalf of Carr Properties, $57 million in financing for the construction of 4500 East West Highway, a 220,000 square foot speculative office building with ground floor retail and underground parking, located just one block from the Bethesda Metro station. The loan was provided by Wells Fargo.  David Webb, Senior Managing Director, Jamie Butler, Associate Vice President, and Phil Mudd, Senior Managing Director, arranged the financing on behalf of Carr Properties.  

4500 East West Highwaywill be the first trophy office building to deliver in downtown Bethesdain over a decade. The project will be built to achieve LEED® Platinum certification and will feature nine-foot finished ceilings, a full height glass curtain wall and best in class amenities including a first floor conference center, executive fitness center, rooftop terrace, and an on-site courtyard.  The surrounding area offers a true live-work-play neighborhood with extraordinary housing, schools and access to over 200 restaurants, boutiques, theaters and art galleries.  There is also excellent vehicular transportation via the adjacent Montgomery Avenue and East West Highway thoroughfares, as well as Wisconsin Avenue, Old Georgetown Road, and the Capital Beltway (I-495).

About Cassidy Turley
Cassidy Turley is a leading commercial real estate services provider with more than 3,600 professionals in more than 60 offices nationwide. 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 $22 billion in 2011, manages 455 million square feet on behalf of institutional, corporate and private clients and supports more than 28,000 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 of North Americathrough 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.

Maureen Wheeler
202.463.1138

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