EagleBank Provides $71.5 Million in Financing to Rosenthal Properties for 4-Property Retail Acquisition in Richmond, VA
June 15 2023 - 6:00AM
EagleBank (NASDAQ: EGBN), one of the largest community banks in the
Washington, D.C. area, today announced it has provided Rosenthal
Properties a $71,500,000 loan for the acquisition of a 4-property
retail portfolio located in Richmond, VA.
This portfolio, making up almost 583,000 square
feet of retail space, is located in three submarkets of Richmond:
Regency, Staples Mill, and the Midlothian West submarket. All three
submarkets are located in the western suburbs of Richmond. Anchor
tenants for these properties include Walmart SuperCenter, The Fresh
Market, Aldi and Wegmans.
“During these turbulent times in the debt
markets, EagleBank delivered on their commitment to fund this
acquisition. A collection of grocery anchored assets of this
quality is very difficult to replicate, so we are thrilled to have
partnered with EagleBank,” said Glenn Rosenthal, President of
Rosenthal Properties.
The transaction was handled by EagleBank’s
experienced commercial real estate team, including Senior Vice
President, Market Executive Kathy Harbold, and Vice President, CRE
Portfolio Manager David Redmond.
“Our clients have always been at the heart of
our business, and their success is intertwined with ours,” said
Ryan Riel, Executive Vice President and Chief Real Estate Lending
Officer. “While the Richmond region is typically outside of our
traditional lending area, Rosenthal Properties is a long-term
client and partner that trusts us to deliver their loan needs in
any region. We continue to ensure our clients receive the best
process and results for their business needs.”
About Eagle Bancorp, Inc. and
EagleBank
Eagle Bancorp, Inc. is the holding company for
EagleBank, which commenced operations in 1998. EagleBank is
headquartered in Bethesda, Maryland, and conducts full service
commercial banking through 13 offices, located in Suburban,
Maryland, Washington, D.C., and Northern Virginia. EagleBank
focuses on building relationships with businesses, professionals,
and individuals in its marketplace.
About Rosenthal Properties
Founded in 1999 by Glenn Rosenthal, Rosenthal
Properties is regarded as one of the Mid Atlantic area’s most
reputable, fully integrated commercial real estate firms. Rosenthal
Properties offers its clients a full range of services, including
property management, leasing, and construction management.
Rosenthal Properties owns, leases, or manages a portfolio of
approximately 8 million square feet of investment-grade retail
centers, industrial parks and office buildings throughout Virginia,
Maryland, and Washington, D.C., both with its own capital and in
partnerships with respected institutional investors.
EagleBank ContactVikki KayneChief Marketing
Officer301.986.1800
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