GAITHERSBURG, MD-A financing deal valued at $11.2 million has closed for the Washingtonian Waterfront retail project. It is the newest addition to the 460,000-sf Washingtonian Center.
Suburban Capital Markets Inc. originated and underwrote the first mortgage loan for borrower Washingtonian Lake LLC to replace construction financing for the 29,600-sf retail project. The fixed-rate loan has since been sold for securitization.
The Washingtonian Waterfront occupies a nearly three-acre parcel at the Washingtonian Center site, which is located in the I-270 corridor. The new retail segment consists of 14,600 sf of of ground-level retail beneath a six-level parking facility and 15,000 sf of pad site restaurant space. Names on the tenant roster include men's clothier Jos. A. Banks, Red Rock Canyon Grill and Starbucks.
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