November 8, 2019
Citizens Commercial Banking has provided a $138 million loan to Washington, D.C.-based real estate investment company DSC Partners for the acquisition of 28 office and industrial buildings located in Montgomery County, MD. Terms of the financing were not disclosed.
The three office parks, previously owned by PS Business Parks, total 1.3 million square feet and consist of the MetroPark North campus in Rockville, and the WesTech and Meadows business parks in Silver Spring. The properties include single- and multi-story office and flex buildings, with tenants such as the U.S. government, MedStar Health, Children’s Hospital, Adventist Health Care, Intelligent Automation, Aetna, Netcom Technologies and Dealeron.
“Citizens Commercial Real Estate bankers are trusted partners who were ready to listen to us and help make this deal a reality,” said Doug Donatelli, co-founder at DSC Partners. “The Citizens team has deep knowledge of the commercial real estate landscape, and their close attention to detail made for a seamless and timely execution.”
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