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Citizens Commercial Banking Provides $138MM to DSC Partners for Real Estate Acquisition

November 07, 2019, 08:45 AM
Filed Under: Mergers & Acquisitions

Citizens Commercial Banking announced that its Commercial Real Estate Finance team is providing a $138 million loan to Washington, D.C.-based DSC Partners, a real estate investment company founded in 2017 by former First Potomac Realty Trust executives, for the acquisition of 28 office and industrial buildings located 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.”

“At Citizens, we try to think about the needs of our clients from their point of view and offer the best solutions,” said Tim Leon, Executive Vice President of Commercial Real Estate for the Mid-Atlantic, Southeast and Southwest at Citizens Bank. “Providing acquisition and bridge loans is just one of the ways that Citizens delivers substantial value for our clients and our communities.”

Citizens is a trusted strategic and financial partner, consistently delivering clear and objective advice. The Citizens Commercial Banking approach puts clients first by offering great ideas combined with thorough market knowledge and excellent execution to help our clients enhance their business and reach their potential.

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