BETHESDA, MD—Too bad, any buyers out there that might havewanted to scoop up a Bethesda office at a competitive price. Youmissed your chance now that MRP Realty securedrefinancing for Montgomery Tower at BethesdaCrossing. As we reported earlier this week, MRP Realty andRockpoint Group secured a $103.5 million bank loan at excellent,albeit unnamed, terms. According to DTZ brokerJohn Campanella, the refi priced at terms a CBDoffice might have gotten.
We caught up with Jackson Prentice, senior vice president anddirector of Portfolio Management at MRP Realty to find out what thecompany's plans are for the property.
This building, as a refresher, is the third tower thatMRP didn't sell to JP Morgan Asset Management earlier thisyear when Bethesda Crossing traded.
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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.
