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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