DSC Partners acquires $149m Maryland portfolio
DSC Partners has acquired a 1.3 million-square-foot portfolio in the Montgomery County, Md., market for $148.8 million.
The seller was PS Business Parks, a REIT that acquires, develops, owns and operates commercial properties, primarily multi-tenant industrial, flex and office space.
The portfolio consists of a combination of 28 well-located single- and multi-story office and flex properties in the MetroPark North, WesTech and Meadows business parks in Rockville and Silver Spring.
“The suburban Washington real estate market has been strengthening significantly recently and these properties are in areas that are being bolstered by the rapidly growing biotech and medical sectors,” said Doug Donatelli, co-founder and partner of DSC.
Tenants across the 28 buildings include the U.S. Government, MedStar Health, Children’s Hospital, Adventist Health Care, Intelligent Automation, Aetna, Netcom Technologies and Dealeron. DSC’s principals have a long histor