6116 Executive Boulevard
North Bethesda, MD

Client
Goodstone LLC

Description
The 217,732 square foot, eight-story office building was built in 1989 and vacated by the National Institutes of Health’s National Cancer Institute in 2013. Goodstone acquired the vacant building from a special servicer through a Ten-X Commercial auction. Goodstone has an extensive capital investment plan to restore the building to its best-in-class status in this highly desirable submarket.

Structuring
Phillips Realty Capital secured a $30,000,000 first mortgage loan from Blue Vista Finance for Goodstone LLC’s extensive renovation and repositioning of the property.