ROCKVILLE, Maryland – MC Real Estate Partners LLC and an institutional partner have acquired Executive Plaza, in Rockville, Maryland.
This is the second office acquisition for the recently formed company founded by Andy Nathan and Steve Grant as the successor to their predecessor firms Meritage Properties and ClearRock Properties.
The 327,000 sf property, which has been significantly renovated over the past several years, sits a short walk from the dynamic Pike and Rose mixed use development and the White Flint Metro station.
“MCRE is thrilled to have made our first D.C. area acquisition so soon after our formation. Steve and I have each been active locally for over 20 years and see Executive Plaza as an ideal addition to our portfolio. The Property has all a tenant could ask for – outstanding amenities, great light throughout and flexible floorplates – ideally located near highways, mass transit, retail and housing. Angelo Gordon and Monument did a wonderful job repositioning Executive Plaza and we look forward to guiding the asset through its next level transformation,” said Nathan, managing principal of MCRE.
MCRE has retained The Polinger Company to provide on-site property management services and Bob Dickman from Avison Young as its leasing Agent.
Jim Meisel and Matt Nicholson of Jones Lang LaSalle represented the seller and sourced the buyer for this transaction with mortgage brokerage services provided by JLL’s Sue Carras and Chris Hew.
MC Real Estate Partners is a privately-held owner/operator of office properties in the New York, Boston, and Washington, D.C. metro areas. Established in 2019 by Andy Nathan and Steve Grant, MCRE reflects the evolution of the founders’ 20-year relationship which began at Tishman Speyer and builds on the legacy of their predecessor firms – Meritage Properties and ClearRock Properties. Combined, these firms executed nearly 50 transactions totaling over 6 million square feet valued over $3 billion.
MCRE delivers a unique blend of institutional quality transactional, development and asset management experience with the entrepreneurial drive and nimble responsiveness of a locally focused boutique firm. MCRE serves as a vertically-integrated operator to private and institutional capital partners investing across the risk spectrum, adding value throughout each investment’s lifecycle.