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Office Buyers Missed Their Chance with Montgomery Tower

BETHESDA, MD—Now that it has refinanced the north tower, MRP plans to focus on leasing instead of selling 'in haste', Jackson Prentice tells GlobeSt.com's Erika Morphy.

By Erika Morphy | Updated on August 20, 2015

BETHESDA, MD—Too bad, any buyers out there that might have wanted to scoop up a Bethesda office at a competitive price. You missed your chance now that MRP Realty secured refinancing for Montgomery Tower at Bethesda Crossing. As we reported earlier this week, MRP Realty and Rockpoint Group secured a $103.5 million bank loan at excellent, albeit unnamed, terms. According to DTZ broker John Campanella, the refi priced at terms a CBD office might have gotten.

We caught up with Jackson Prentice, senior vice president and director of Portfolio Management at MRP Realty to find out what the company’s plans are for the property.

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