Bear Stearns is providing the funds, which come in the form of a first-mortgage debt loan. According to Fairfax County records the 365,000-sf property has a current assessed value of nearly $57.2 million. The building is distinguished for being the headquarters of General Dynamics Corp., which keeps its offices on the top five floors of the 15-story building.

"It was a team effort to secure permanent financing for our client who had allowed us to be their exclusive representative," says Richard Bopp, GMACCM Washington DC office senior vice president and branch manager. "Working closely with the borrower, we created an auction and selected Bear Stearns as the lender who best satisfied our client's needs."

Located at the intersection of Rte. 50 and I-495, 2941 Fairview is just one of many structures in the mixed-use Fairview Office Park that will ultimately consist of 3.6 million sf. The structure was developed three years ago and features such added amenities as an on-site conference facility, an exercise center, and 2941 Restaurant. Other tenants in the building include international law firm Howrey Simon Arnold & White LLP, which committed to 52,300 sf of space at the property in May.