Earlier this month, St. John Properties sold the 206,000-square-foot Maryland Executive Park for $26.5 million. The buyer was a fund based in Connecticut, Greenfield Partners LLC. Now more details about that transaction have emerged—namely that EagleBank provided the financing for the acquisition, a $19.8 million floating rate loan that will serve as interim financing for the next few years. The three-year term comes with two one-year extension options.
Gideon Gil, Alexander Hernandez, and Sridhar Vankayala of Cushman & Wakefield’s Equity, Debt and Structured Finance team represented the sponsor in the financing.GlobeSt - EagleBank Provides Interim Financing for Maryland Executive Park