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Washington DC  + DC Metro  + Apartments  | 

LCOR Refis North Bethesda Apartments for $72M 

Newmark recently arranged a $72-million loan for the refinancing of Wentworth Apartment Homes, a Class A multifamily asset in North Bethesda, MD. Executive managing director Jim Badolato of Newmark’s Debt & Structured Finance Group represented the borrower, LCOR, in the refinancing. 

The loan was provided by the New York office of German lender BayernLB. LCOR, which specializes in complex urban development, owns and manages properties across the U.S. with decades of experience in the Washington DC metro area.

“Despite COVID-19 headwinds, rental demand for Wentworth and surrounding Class A product in North Bethesda has remained strong and outperformed the greater submarket,” said Badolato. “The fundamentals support future growth and the value of the asset was underscored by the competition for this financing.”

LCOR completed Wentworth in 2008, as the first of three multifamily communities the company has built to-date at the White Flint Metro Station.

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Newmark's Badolato

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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