Cushman & Wakefield Secures Financing for MRP Realty’s Montgomery Tower

10/31/17

Cushman & Wakefield announced today that it has secured a loan for MRP Realty for Montgomery Tower, a Class-A office building located in Bethesda, Md.

“Pricing on Montgomery Tower was comparable to what we are seeing on stabilized assets in the CBD” said John Campanella, Executive Managing Director and the senior broker on this deal. “We expect this very liquid lending market to continue through the first half 2018, providing borrowers with a very favorable lending environment.”

John Campanella represented MRP Realty at 4550 Montgomery Avenue, Bethesda, Md. He and his team provided a non-recourse commercial bank loan.

Montgomery Tower is a 12-story office building located in Downtown Bethesda. Built in 1980, the Class A office building houses a variety of large credit tenants such as Abt Associates, which occupies 123,000 square feet in the building, and the Cystic Fibrosis Foundation, which occupies 62,000 square feet. MRP Realty completed renovations on the building in 2014. Centrally located within the Bethesda central business district, the building is located near an optimal mix of residential, retail and office properties.

About MRP Realty
Founded in 2005, MRP Realty is a real estate operating company focused on opportunistic and value-add investment in the northeastern United States, with offices in the Washington, DC metro area, Baltimore, Philadelphia, and New York City. MRP provides its institutional capital partners a full array of real estate services including: acquisition/disposition, development/ construction management, property management, asset management and financial reporting services. Since the company’s inception, MRP has deployed nearly $4.1 billion in total capitalization. MRP’s combined development assets total more than 28 million square feet, with 10 million square feet under its property management

About Cushman & Wakefield

Cushman & Wakefield is a leading global real estate services firm that helps clients transform the way people work, shop, and live. Our 45,000 employees in more than 70 countries help occupiers and investors optimize the value of their real estate by combining our global perspective and deep local knowledge with an impressive platform of real estate solutions. Cushman & Wakefield is among the largest commercial real estate services firms with revenue of $6 billion across core services of agency leasing, asset services, capital markets, facility services (C&W Services), global occupier services, investment & asset management (DTZ Investors), project & development services, tenant representation, and valuation & advisory. 2017 marks the 100-year anniversary of the Cushman & Wakefield brand. 100 years of taking our clients’ ideas and putting them into action. To learn more, visit www.cushwakecentennial.com, www.cushmanwakefield.com or follow @CushWake on Twitter.

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