Bethesda, MD, September 23, 2020 –
Working on behalf of repeat client Peterson Companies, Phillips Realty Capital Principal Mark Remington structured $12,500,000 permanent financing from Fulton Bank for 6710 Oxon Hill Road, a 117,005 SF office building located in the National Harbor complex in Oxon Hill, Maryland.
Remington said, “Peterson is a blue-chip sponsor, long-term holder and wanted to monetize its recent success after restabilizing the property. Despite the challenging times, we found a borrower-friendly lender in Fulton Bank.”
Built in 1990, 6710 Oxon Hill is a five-story office building totaling 117,005 square feet of office space on 7.65-acres in the National Harbor neighborhood along the Potomac River. As of March 2020, the Property was 94% leased to a mix of medical users and both public and private office tenants. The property is managed by Peterson Companies and offers a marble lobby and flexible, efficient floor plates of ±24,408 square feet.
About Peterson Companies
As one of the region’s largest privately-owned real estate developer, Peterson Companies has been consistently delivering some of the Washington, DC area’s most exciting destinations for more than 50 years. With a portfolio that includes National Harbor, Downtown Silver Spring, Fair Lakes, and Fairfax Corner, Peterson Companies continually strives to enhance the local community and develop vibrant properties. For more information, visit petersoncos.com.
About Fulton Bank
Fulton Bank, N.A., a subsidiary of Fulton Financial Corporation (NASDAQ: FULT), offers a broad array of financial products and services in Pennsylvania, New Jersey, Maryland, Delaware, and Virginia. For more information, visit fultonbank.com.