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JLL Capital Markets Arranges $38.5M Loan For Office Building Acquisition At 805 King Farm Boulevard, Rockville

Property Image
FINANCED
$38,500,000
Robert (Bob) Tonnessen
Michael Gigliotti
Brian Buglione

Maryland

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Office240,000 SF
Financed 03/08/2022
the dealplayerscompscontact
Property Image
FINANCED

JLL Capital Markets Arranges $38.5M Loan For Office Building Acquisition At 805 King Farm Boulevard, Rockville

805 King Farm Boulevard, Rockville, Maryland 20850, United States

See Similar Deals
Office240,000 SF
Financed 03/08/2022
Robert (Bob) Tonnessen
Michael Gigliotti
Brian Buglione
the dealplayerscompscontact
Contact now

Summary

MARYLAND
Asset Type:Office
Price Per Square Foot:$160
Total Square Footage:240,000 SF
Transaction Type:Loan

The office property located at 805 King Farm Boulevard in Rockville, Md has been involved in a recent transaction. The property spans a total of 240,000 square feet and is owned by Building and Land Technology, represented by Carl Kuehner, and Green Hollow Capital Partners, represented by Jim Glasgow.

Summary of transation details

  • Property Type: Office
  • Transaction Amount: $38,500,000
  • Address: 805 King Farm Boulevard, Rockville, Md
  • Market: Rockville, Md
  • Lender: Ladder Capital
  • Landlord: Building and Land Technology - Carl Kuehner & Green Hollow Capital Partners - Jim Glasgow
  • Brokers: Michael Gigliotti, Robert Tonnessen & Brian Buglione - JLL Capital Markets

The acquisition of the property was supported by a loan from Ladder Capital valued at $38,500,000. The loan type was an Acquisition Loan.

Players

Robert (Bob) Tonnessen
JLL
Robert Tonnessen
23 deals$2.5B volume(212) 632-1835
BROKER
Brian Buglione
JLL
Brian Buglione
5 deals$114.6M volume(212) 812-5795
BROKER
Michael Gigliotti
JLL
Michael Gigliotti
19 deals$3.7B volume
BROKER
Ladder Capital
Ladder Capital
LENDER

Details

FINANCED
IMAGE: Michael Gigliotti, Carl Kuehner, Jim Glasgow, Robert Tonnessen & Brian Buglione DATE: 03/08/2022 ADDRESS: 805 King Farm Boulevard MARKET: Rockville, Md ASSET TYPE: Office ~ SF: 240,000 LENDER: Ladder Capital LANDLORD: Building and Land Technology - Carl Kuehner & Green Hollow Capital Partners - Jim Glasgow BROKERS: Michael Gigliotti, Robert Tonnessen & Brian Buglione - JLL Capital Markets LOAN AMOUNT: $38,500,000 LOAN TYPE: Acquisition Loan

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$38,500,000.00

Monthly NOI$256,666.67
Monthly Debt Service$243,346.19
Change in Cash Flow$0.00
Refinance Proceeds$0.00