Alex. Brown JV Lands Office Asset North of DC


The company bought the four-story office building with Washington Property Co. and plans to make capital upgrades to the property.

One Research Court, Rockville, Md.One Research Court, Rockville, Md.

Rockville, Md.—A joint venture organized by Alex. Brown Realty and Washington Property Co. recently acquired One Research Court, a four-story, 113,620-square-foot office building in Rockville, 23 miles north of downtown D.C.

Value-add real estate fund ABR Chesapeake Fund V, which is sponsored by Alex. Brown Realty, invested $5.5 million, with acquisition financing secured through Fulton Bank. The company did not disclose other financial details, but Montgomery County records note that the asset changed hands mid-June for a total of $17 million. The last official assessment estimates the property at approximately $18.9 million…

Alex. Brown JV Lands Office Asset North of DC

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