$52M Acquisition Financing Is in Place for 600,000-SF Park

LANHAM, MD-A transaction involving $52 million in acquisition financing closed for BECO at Forbes Center, a 600,000-sf office and R&D park that boasts a coveted location just 10 miles outside of the heart of Washington, DC and 20 miles from Downtown Baltimore. John B. Levy & Co. orchestrated the financing, which comes from an unnamed lender, on behalf of BECO Management Inc.

BECO acquired the 14-structure portfolio for $55 million earlier this year and then gave the park its name. The loan is for a 10-year term with a 30-year amortization; competition to provide the financing was significant. “This is perhaps the largest financial transaction for commercial office space in Prince George’s County in over a decade,” says John. B. Levy, president of John B. Levy & Co.