PCCP Provides $80 Million Refinance Loan For 343-Unit Multifamily Asset In Bethesda, MD

The Rae is a 343-unit Class A apartment community located at 10401 Motor City Drive in Bethesda, Maryland. The property was developed by Foulger-Pratt and completed in 2023. It benefits from transit access to Washington, D.C., and is near major employment hubs, with favorable multifamily fundamentals as new construction activity in the submarket declines.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $80,000,000
• Loan Type: Refinance
• Lender: PCCP
• Landlord: Cameron Pratt - Foulger-Pratt
• Market: Bethesda, MD

PCCP provided an $80 million loan specifically to refinance The Rae, aligning with the current trends in the multifamily market. This transaction showcases the involvement of Cameron Pratt representing Foulger-Pratt in the refinancing process.