REBusinessOnline

MAC Realty Advisors Arranges $72.5M Loan for Multifamily Development in Metro D.C.

The borrower/developer, a partnership between Foulger-Pratt and Promark Partners, expects to deliver East Village at North Bethesda Gateway by the end of 2020.

NORTH BETHESDA, MD. — MAC Realty Advisors has arranged a $72.5 million construction-to-permanent loan for East Village at North Bethesda Gateway, a 335-unit multifamily community in North Bethesda. The borrower/developer, a partnership between Foulger-Pratt and Promark Partners, expects to deliver the asset by the end of 2020. The property is located at 5616 Nicholson Lane, 11 miles north of downtown Washington, D.C., on the former site of White Flint Mall. Andrew McAllister, Nick Rubenstein and Pate Hardison of MAC Realty originated the loan on behalf of the borrower through an undisclosed national lender.

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