Finance Investment Banking
JPG Takes 2 Bethesda Office Buildings for $80M
May 8, 2008
By: Judy Feldman, Contributing Correspondent

The JBG Cos. has bought two North Bethesda, Md., properties for $80 million. Together, the class A buildings contain 346,000 square feet. The are located on the Rockville Pike near the Montgomery Mall.

Holiday Fenoglio Fowler’s senior managing directors Bob Donhauser and Bill Asbill, and director Cary Abod, helped the firm secure financing, a five-year fixed rate loan, from ING Real Estate.

Th market is tight for office space now, with rents in the Montgomery County area hitting a new high of $33.75 per square foot in Class A buildings, according to data from Cushman & Wakefield Inc., which also noted that Montgomery County has had a cooling job market this year and continued weakness in the financial sector, along with the rest of the country. But the unemployment rate in Montgomery County is still at an eight-year low of 2.7 percent. The Bethesda/Chevy Chase is the tightest among all the submarkets in the county with the vacancy rate dropping to 4.3 percent for class A buildings.

The JBG Companies, founded in 1960, is an active investor owner and developer in the Washington, D.C., metropolitan real estate market. It currently has more than $10 billion in assets under management.

 
Recent Investment Banking Headlines
Rebuilding Downtown JPMorgan Chase WTC Development Plans in Doubt
May 15, 2008
Has JPMorgan Chase finally backed off on plans to build an office tower at the World Trade Center site in lower Manhattan?
Simon to Sell $1.5B in Senior Notes
May 13, 2008
In a time when borrowing can be a daunting task, even for entities with sterling credit histories, companies are turning to other means to raise the capital they need, according to industry experts.
Rockwall I and II. JPG Takes 2 Bethesda Office Buildings for $80M
May 08, 2008
The JBG Cos. has bought two North Bethesda, Md., properties for $80 million. Together, the class A buildings contain 346,000 square feet. The are located on the Rockville Pike near the Montgomery Mall.
ING Real Estate, Grupo Carrousel, Operadore Punta Maroma to Develop $150M Resort in Mexico
May 05, 2008
ING Real Estate will partner with Grupo Carrousel and Operadora Punta Maroma to develop a new $150 million ocean front resort on Bahia Maroma along Mexico's Riviera Maya. The cost doesn't include the price of land.
Corporate Office Properties Closes $225M Revolving Construction Facility
May 05, 2008
Corporate Office Properties Trust has announced it closed on a $225 million construction loan facility that will be utilized to fund most of its construction costs over the next several years.
 

 

Engaging Your Employees Essential
May 09, 2008
By Mike Myatt, Chief Strategy Officer, N2growth --Long gone are the days where the executive leadership of a company can remain sequestered in their offices with an internal focus on hard metrics. It is the soft metrics of customer centricity...

The Name Game: Part 3
May 02, 2008
By Mike Myatt, Chief Strategy Officer, N2growth --This is the third and final piece in this series on naming. The first column dealt with how to select a naming firm, the second one addressed the components that go into creating...

The Name Game, Part 2
April 25, 2008
By Mike Myatt, Chief Strategy Officer, N2growth --This week's column is part two in a three part series on naming. Last week's column contained advice on how to select a naming firm and today I'll address the elements that go...

The Name Game: Part 1
April 18, 2008
By Mike Myatt, Chief Strategy Officer, N2growth --The disciplines of branding and corporate identity have long been personal passions of mine, and nothing within this genre holds greater fascination for me than the practice of corporate naming. This column is...

Knowledge Is Power
April 11, 2008
By Mike Myatt, Chief Strategy Officer, N2growth --The ability of an executive to sort out who, what, why, when, where, and how while contemplating how decisions are made will largely determine the qualitative outcome of said eventual decisions. Even though...