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PRC Secures $29M Bridge Loan for D.C. Metro Office Building

Phillips Realty Capital (PRC) has arranged a $29 million loan for Reston Metro Center One, a 124,076-square-foot office building in Reston.

Built in 2000, the fully-vacant property provides a headquarters opportunity for prospective tenants relocating to Reston, and offers signage visibility from the Dulles Toll Road. Additionally, the building is located less than seven miles from Washington Dulles International Airport. Amenities include ample parking, access to high level fiber, an employee lounge and a tenant fitness center with full locker rooms.

Malcolm Shaw, Steve Shaw, Harmon Handorf and Bill Wrench of PRC represented the borrower, HighBrook Investors, in securing the three-year plus extension options, and floating-rate loan provided by Rubenstein Mortgage Capital.

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About David Cohen

David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector. Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA. David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.