OakNorth has provided a $24.2 million loan to a joint venture between Roadside Development and Hudson Bay Capital to support the acquisition of Bethesda Towers, a three-building office campus in downtown Bethesda, Md.
Located at 4330, 4340 and 4350 East-West Highway, Bethesda Towers comprises approximately 600,000 square feet of office space across three 11-story buildings. Situated less than a half mile from Bethesda Metro Station and within easy reach of downtown Washington, D.C., the property occupies a prime position in one of the region’s most desirable residential submarkets, benefiting from strong demographics, high household incomes and proximity to major employers including the National Institutes of Health, Walter Reed National Military Medical Center and Marriott International.
Richard Lake, founding partner at Roadside Development, commented: “Bethesda Towers is a high-quality asset in an exceptional location at the heart of one of the Washington metrop
