Morning Calm Management has received $46.6 million in acquisition financing for Capital Office Park in the Greenbelt, Maryland suburb of Washington, D.C. Holliday Fenoglio Fowler worked on behalf of the borrower to secure the floating rate funding through ACORE Capital. The seven property office portfolio totals 806,531 square feet and is located at 6301-6421 Ivy Lane, about 11 miles northeast of Washington, D.C. The portfolio is currently 60 percent leased with tenants including Bozzuto & Associates, Whiting Turner, and the U.S. District Attorney’s Office. Morning Calm Management, who will be moving its primary office to the complex, intends to undertake substantial capital expenditures to improve the property’s lobbies, elevators, windows and amenity spaces.
“Morning Calm has made an impressive foray into the D.C. marketplace with their acquisition of Capital Office Park,” said Cary Abod, HFF. “They have a clear, coherent plan for the portfolio that resonated with the lender community and generated an impressive amount of interest.”
