Roadside Development, the Washington, D.C.–based real estate investment and development firm known for its retail-driven, mixed-use and adaptive reuse projects, in partnership with Hudson Bay Capital, a global alternative asset manager, announced the acquisition of Bethesda Towers, an approximately 600,000-square-foot three-building office campus in downtown Bethesda, Md. The seller, Moore & Associates, will continue to oversee property management.
Roadside plans to strategically reposition Bethesda Towers over time.
“This is a truly exciting opportunity for us to do what we do best,” said Jeff Edelstein, president at Roadside Development. “The Bethesda Towers campus presents a large-scale parcel with the potential to become a unique and transformative place at the gateway to Bethesda. We’ve had our eye on the property for quite some time, and it will be a great collaboration with our partners at Hudson Bay Capital.”
“Bethesda Towers is an exam
