$29.4 million sale and $19.175 million financing for three Gaithersburg, Maryland, office/lab buildings arranged by HFF
WASHINGTON, D.C. – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the sale of and arranged financing for 25, 35 and 45 West Watkins Mill Road, three office/lab buildings totaling 139,938 square feet in the Washington, D.C. submarket of Gaithersburg, Maryland.
HFF represented the seller, an affiliate of Equus Capital Partners, Ltd., in the transaction. Tritower Financial Group purchased the assets for $29.4 million and was assisted by HFF in securing a 10-year, fixed-rate acquisition loan with a life insurance company.
25, 35 and 45 West Watkins Mill Road are situated on a combined 12.7 acres within Montgomery County’s I-270 corridor, which is widely known as a leading life sciences center. The properties are within walking distance of the new Watkins Mill Town Center and have easy access to area roadways including Rockville Pike, Routes 117 and 124 and the Intercounty Connector. Tenants at the 95 percent, triple net leased buildings include MedImmune and Amplimmune, wholly owned subsidiaries of AstraZeneca.
The HFF investment sales team representing the seller included senior managing directors Jim Meisel, Dek Potts and Andrew Weir, executive managing director Stephen Conley and associate director Matthew Nicholson.
HFF’s debt placement team representing the new owner was led by managing director Cary Abod.
About Equus Capital Partners, Ltd.
Equus Capital Partners, Ltd. (“Equus”) is one of the nation’s leading private equity fund managers. Equus’ portfolio consists of over 24 million square feet of office, retail, and industrial properties and more than 16,000 apartment units in over 60 communities located throughout the United States. The firm is headquartered in the Philadelphia area with regional offices in Los Angeles, Chicago, Washington D.C., Boston, Atlanta, and Raleigh-Durham. For additional information, please visit the company’s website at www.equuspartners.com.
About Tritower Financial Group
Tritower Financial Group, LLC is a private real estate investment and management firm whose principals have over 80 years of collective experience in commercial real estate investing throughout the United States. Over the past 25 years, the principals have structured over 75 separate real estate syndications, both public and private, with a value in excess of $3 billion. Over this time, we have successfully established a broad investor base that includes thousands of high net worth and institutional investors. For more information, please visit www.tritowerfinancial.com
HFF and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 22 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing. For more information please visit hfflp.com or follow HFF on Twitter @HFF.