Normandy Real Estate Partners, Taconic Capital buy Gateway Tower
A joint venture between Normandy Real Estate Partners and Taconic Capital secured a $35.56m acquisition loan to buy Gateway Tower. The 261,989 sq ft, nine-story office tower is located in Rockville, Maryland. The building also includes roughly 14,000 sq ft of retail space along with 648 parking spots. A portion of the funding will be used to upgrade the base building, add new common area amenities and build out various spec suites. Holliday Fenoglio Fowler secured a five-year, floating-rate acquisition loan through Citizens Bank.