Cancer Institute Building Trades for $82M

BETHESDA, MD-Capital Lease Funding has closed on its $81.5-million acquisition of 6116 Executive Blvd., a 207,000-sf office building located at the Executive Plaza business park in the North Bethesda submarket. In conjunction with the purchase, CapLease closed a $65.2-million 10-year mortgage financing package on the property.

Capital Lease acquired the fully occupied property from an affiliate of Guardian Realty, operating under the name of 6116 Associates LP and represented by Spaulding & Slye Colliers. In 2002 Guardian refinanced 6116 Executive Blvd. through a $53-million floating-rate mortgage loan. The building and the five-acre parcel it occupies, according to Montgomery County real estate records, have a total assessed value of $49.8 million for 2005.