NorthMarq Capital’s Washington, D.C. office arranges acquisition/bridge financing in Tysons Corner, Virginia
Office Building
WASHINGTON, D.C. (May 22, 2017) – NorthMarq Capital’s Washington, D.C. regional office arranged $40,720,000 in acquisition/bridge financing for a 262,000 sq. ft. office building located in Tysons Corner, Virginia. The 10-story building provides exceptional visibility from the Capital Beltway, convenient ingress and egress to the highway system and access to the full amenity base that Tysons Corner offers. The subject maintained strong occupancy throughout its history. However, due to a 2015 lease expiration of a large tenant the building’s occupancy dropped significantly, thereby providing an opportunity to purchase the property well below comparable sales and reproduction cost. The institutional acquisition also provides an opportunity to reposition the asset so it may compete with “A” quality buildings in one of the largest office markets in the United States.
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Northmarq is one of the largest privately held commercial real estate firms in the United States, combining a nationwide presence with deep local expertise. With more than 50 offices across the country, we provide a full suite of debt, equity, investment sales, loan servicing and fund management solutions for a comprehensive range of property types. Our unique structure allows us to connect clients with the best opportunities, yet be nimble enough to ensure access to every expert across our company. The firm manages a loan servicing portfolio of over $78 billion and has completed $69.5 billion in transactions over the past three years. At Northmarq, collaboration fuels results, helping clients achieve success in every market, nationwide. For more information, visit www.northmarq.com.
