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.
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.