BETHESDA, MD—Montgomery Tower's owners have secured $103.5 million in financing for the recently renovated 12-story building located at 4550 Montgomery Ave.
MRP Realty and Rockpoint Group tapped DTZ's John Campanella to arrange financign for the building, Montgomery Tower at Bethesda Crossing. A global commercial bank provided the loan for the 366,161-square-foot building.
Earlier this year, MRP Realty and Rockpoint Group sold two of the three office towers that comprise Wisconsin Towers at Bethesda Crossing to J.P Morgan Asset Management. MRP and Rockpoint retained ownership of the Montgomery Tower and MRP Property Management continues to manage the entire three-building property.
Montgomery Tower attractive aggressive pricing comparable to what a building in the CBD might have gotten, according to DTZ's Campanella.
Built in 1980, Montgomery Tower has been extensively renovated. It is also LEED Gold certified.
The office building is currently 93% leased with tenants such as Abt Associates and Calvert Shareholders.
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
