ROCKVILLE, MD—JBG Cos. has secured $30 million from a national debt fund for 5635 Fishers Lane. Cassidy Turley's John Campanella and Paul Spellman arranged the financing.
5635 Fishers Lane is a 184,638-square foot office located within walking distance to the Twinbrook Metrorail station. The building is fully leased to five tenants and is anchored by the National Institutes of Health, which occupies 66% of the building.
The transaction illustrates how competitive the debt funds are in today's marketplace, Campanella says. In many cases, they are as competitively priced as the banks, "while providing borrowers with more flexibility and higher leverage."
In the coming days GlobeSt.com's sister publication Real Estate Forum will be publishing the results of a capital markets survey of our readers in which we asked about the availability of debt and equity for transactions. Debt funds have indeed become even more competitive, the results will show, along with other sources of finance.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
