Citizens Commercial Banking provided a $138 million loan to Washington, D.C.-based DSC Partners for the acquisition of 28 office and industrial buildings in Montgomery County, MD.
Citizens is left lead bank and administrative agent.
The three office parks, previously owned by PS Business Parks, total 1.3 million square feet and consist of the MetroPark North campus in Rockville and the WesTech and Meadows business parks in Silver Spring. The properties include single- and multi-story office and flex buildings with tenants such as the U.S. government, MedStar Health, Children’s Hospital, Adventist Health Care, Intelligent Automation, Aetna, Netcom Technologies and Dealeron.
“Citizens’ Commercial Real Estate bankers are trusted partners who were ready to listen to us and help make this deal a reality,” said DSC Partners co-founder Doug Donatelli. “The Citizens team has deep knowledge of the commercial real estate landscape and their close attention to detail made for a seamless and timely execution.”
