Mark Remington Of Bellwether Enterprise Secures $22.5M Loan From United Bank

The loan of $22.5 million was arranged by Phillips Realty Capital for WesTech Corner, a 41,262-square-foot shopping center in Silver Spring, Maryland. The property is fully leased to prominent tenants such as Five Guys, Chick-fil-A, Qdoba Mexican Grill, Fridays, Panera Bread, IHOP, and Capital One Bank. United Bank provided the permanent financing on behalf of the borrower, Rappaport, who acquired the property in 2014.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $22,500,000.00
• Property Address: 12251 Tech Rd, Silver Spring, MD, 209...
• Market: Silver Spring
• Borrower's Rep: Mark Remington (Bellwether Enterprise (BWE))
• Lender: United Bank

Mark Remington of Phillips Realty Capital was the key individual who arranged the loan through United Bank for the financing of WesTech Corner. The borrower, Rappaport, acquired the property in 2014 and secured the permanent financing, ensuring the shopping center's continued operation with a diverse range of national tenants.