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$13M Purchase of Two Office Buildings Closes

LANHAM, MD-The $13.3-million acquisition of two Suburban Maryland office properties in two separate transactions closes, leaving Asset Capital Corp. Inc. as the new owner. The buildings, which account for a total of 90,600 sf, are located here and in Laurel, MD.

By Barbra Murray | Updated on April 13, 2006

LANHAM, MD-Asset Capital Corp. has wrapped up the acquisition of two office properties totaling 90,600 sf in Suburban Maryland. In separate related transactions, the company spent an aggregate $13.3 million, including the assumption of debt.

Asset Capital purchased the 46,800-sf, 21-year-old office building at 4550 Forbes Blvd. here in the Washington Business Park. The company paid Derry Court LLC $6.5 million, a sum that includes an existing $4.5-million mortgage debt, for the 78% leased three-story property.

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