Cushman & Wakefield announced today that it has secured a loan for WealthCap.
Cushman & Wakefield’s Executive Managing Director, John Campanella, represented WealthCap at 5635 Fishers Lane, Rockville, Md. The team provided a non-recourse commercial bank loan of $33,030,000 structured for the repositioning of a Class A office building.
“We continue to see the commercial banks providing excellent pricing for solid borrowers with well-located assets,” says Campanella, who anticipates that institutional sales market will slow further in 2018, creating an even more competitive lending environment.
5635 Fishers Lane is a 6-story office building located in the Twinbrook Metro Park. Built in 1965, full renovations were completed in 2004 to revamp the building and increase its attractiveness to potential tenants in the area. The building’s proximity to the Metro’s Red Line combined with an abundance of on-site parking are this property’s top selling points. With 185,389 square feet the building is home to key tenants such as the United States Pharmacopeial Convention and the National Institute on Alcohol Abuse and Alcoholism.
About WealthCap
WealthCap is one of Germany’s market leaders in investments in real assets. With more than 30 years of investment expertise, WealthCap has access to high-quality investment opportunities in many attractive asset classes that it translates into clear investment products tailored to individual investment objectives. WealthCap develops products for both private investors and structured solutions for the particular requirements of professional investors. Approximately 216,000 investors have now made investments in 138 funds. With 250 employees in the Munich headquarters as well as in Atlanta and Toronto, WealthCap has a total of $10.7 billion assets under management.
About Cushman & Wakefield
Cushman & Wakefield is a leading global real estate services firm that helps clients transform the way people work, shop, and live. Our 45,000 employees in more than 70 countries help occupiers and investors optimize the value of their real estate by combining our global perspective and deep local knowledge with an impressive platform of real estate solutions. Cushman & Wakefield is among the largest commercial real estate services firms with revenue of $6 billion across core services of agency leasing, asset services, capital markets, facility services (C&W Services), global occupier services, investment & asset management (DTZ Investors), project & development services, tenant representation, and valuation & advisory. 2017 marks the 100-year anniversary of the Cushman & Wakefield brand. 100 years of taking our clients’ ideas and putting them into action. To learn more, visit www.cushwakecentennial.com, www.cushmanwakefield.com or follow @CushWake on Twitter.
