$14.5M Financing for Three Lexington Park Buildings

LEXINGTON PARK, MD-Three new buildings in St. Mary’s County’s Lexington Park subdivision now have a total of $14.5 million in mortgage financing, courtesy of lender UBS Warburg Real Estate Investments, Inc. The financing comes in the form of three separate loans, which are all cross-collateralized and cross-defaulted. Together, the structures–which were all built within the past two years–account for 151,000 sf of class A office space.

The borrower is an affiliate of the local Wildewood Team of Professionals. “It was a conduit, CMSB execution,” Cassidy & Pinkard/iCap’s Mark Remington tells GlobeSt.com. Remington’s firm negotiated the transaction.”[The borrower] is a top client of the firm.” The buildings are Expedition I and Expedition II, and Exploration VI, which is a four-story edifice located on 2.84 acres at Routes 4 and 235. All of the structures are fully occupied by defense contractors. ManTech Systems Engineering Corp. is the sole occupant of one of the buildings.