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BLT Green Hollow, Banyan Street Capital Secure $39M for Rockville Office
JLL has arranged $38.5 million in acquisition financing for 805 King Farm Boulevard, a 240,000-square-foot office building known as District IV that is located within The District at King Farm in Rockville, MD.
A JLL team Michael Gigliotti, Robert Tonnessen and Brian Buglione represented the borrower, BLT Green Hollow, a partnership between Building and Land Technology and Green Hollow Capital Partners, along with Banyan Street Capital, to secure the financing through Ladder Capital.
District IV is part of the recently rebranded District at King Farm, which is comprised of four assets totaling over 750,000 square feet of office and retail space. Banyan Street Capital had previously acquired a stake in 700, 702 and 800 King Farm Boulevard (District I, II, and III) in the summer of 2020.
Banyan Street and BLT Green Hollow acquired 805 King Farm Boulevard in October 2021 in through a deed-in-lieu proceeding following a purchase of the then existing loan from another lender.
- ◦Sale/Acquisition
- ◦Financing
