By Bogdan Odagescu
Cushman & Wakefield closed a $33 million loan on behalf of German company WealthCap for the repositioning of an office asset located in Rockville, Md., roughly 15 miles north of Washington, D.C. According to Yardi Matrix, the loan was originated and is held by East West Bank.
Located at 5635 Fishers Lane within Twinbrook Metro Park, the six-story, LEED Silver-certified office building was constructed in 1965 and underwent thorough renovations in 2004. WealthCap bought the building from JBG Cos. in 2005 as part of a portfolio sale, Yardi Matrix data shows. The tenant roster of the 185,511-square-foot property includes the United States Pharmacopeial Convention and the National Institute on Alcohol Abuse and Alcoholism.
The property is located within walking distance of Twinbrook Metro Station for the Red line, a 30-minute ride from Farragut North Station in downtown Washington, D.C. The building is close to a dense retail corridor along Rockville Pike offering several shopping and dining destinations, including Montrose Crossing, Federal Plaza and Congressional Plaza. Hilton Rockville Hotel & Executive Meeting Center and EVEN Hotel Rockville are also nearby.
Image courtesy of Yardi Matrix