Citizens Bank refinances Maryland offices

Citizens Bank has provided a $37m bridge loan to Angelo Gordon & Company and Monument Realty for Executive Plaza in North Bethesda, Maryland.

Citizens Bank has provided a $37m bridge loan to Angelo Gordon & Company and Monument Realty for Executive Plaza in North Bethesda, Maryland.

The three-year, floating-rate loan will refinance an existing loan and fund continued capital improvements and leasing costs.

UntitledThe office complex, made up of two eight-story buildings, totaling 328,000 sq ft is located at 6120 and 6130 Executive Boulevard in the White Flint district of North Bethesda. 

Angelo Gordon and Monument Realty took over the property in July of 2013, infusing the buildings with $10m in capital improvements.

They plan to outfit a 25,683 sq ft of lower level space in 6120 Executive Boulevard with a new fitness facility and conference center.

An HFF debt placement team led by Susan Carras, Walter Coker and Brian Crivella arranged the financing.

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