Roadside Development And Hudson Bay Capital Acquire Bethesda Towers Office Complex For $24.2M

The property asset involved is Bethesda Towers, an office complex located at 4330 East-West Highway, 4340 East-West Highway, and 4350 East-West Highway in Bethesda, MD. The complex encompasses a total square footage of 568,642 and is characterized as an office asset. This acquisition was financed with a loan amount of $24,200,000.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $24,200,000
• Lender: OakNorth Bank
• Landlord: Richard Lake - Roadside Development & Hudson Bay Capital
• Loan Type: Acquisition

This transaction involves a venture between Roadside Development and Hudson Bay Capital, who acquired the property from Moore & Associates. The financing provided by OakNorth Bank facilitates this acquisition, emphasizing the strong collaborative effort in this transaction.