Roadside Development, in partnership with Hudson Bay Capital, announced the acquisition of Bethesda Towers, a 600,000-square-foot, three-building office campus in downtown Bethesda, Maryland.
The seller, Moore & Associates, will continue to oversee property management. Roadside plans to strategically reposition Bethesda Towers over time. Mychael Cohn of Cohn Property Group represented Roadside on the acquisition. David Borden and Jason Krane of Ackman-Ziff represented Roadside in arranging the debt and equity financing. Brian Ashin of Paul Hastings served as Roadside’s legal counsel.
Located at 4330 East-West Highway, Bethesda Towers occupies a highly visible, transit-connected site in the heart of downtown Bethesda, walkable to its retail and dining, cultural and lifestyle amenities. The property is a unique piece of real estate connecting to both East-West Highway and Montgomery Avenue, providing convenient access to downtown Washington, D.C., Marriott International’s global headquarters, the National Institutes of Health, Suburban Hospital and other major employers.
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