Affinius Refis National Cancer Institute HQ in Rockville
By Keith Loria January 23, 2024 5:30 pm
reprints
Affinius Capital has secured a three-year syndicated loan to refinance the National Cancer Institute (NCI) headquarters building, a 586,524-square-foot office and laboratory property in Rockville, Md.
JLL Capital Markets facilitated the financing, which was led by Sumitomo Mitsui Banking Corporation (SMBC) and jointly closed with Industrial and Commercial Bank of China (ICBC).
The building was developed in 2012 as a build-to-suit headquarters facility for the NCI within the Shady Grove Life Sciences Center. The tenant recently executed a 10-year lease extension, carrying its term for the entire building through 2033. The building combines office, lab and medical space, as well as an on-site data center. The property also features a 3,000-square-foot fitness center, a yoga studio, and private outdoor space.
In 2016, USAA Real Estate acquired the eight-story building, located at 9609 Medical Center Drive, for $260.2 million, and secured a $161.2 million acquisition loan originated by Wells Fargo Bank, according to previously published reports.
In 2021, USAA Real Estate acquired the balance of Square Mile Capital and two years later merged to form Affinius Capital.
No other loan details were disclosed, and requests for comment from those involved were not immediately returned.
“In a market environment where the office sector is facing significant headwinds, the quality of the real estate, tenancy and sponsorship commanded strong interest from the debt market,” Rob Carey, a managing director of JLL, said in a prepared statement. “Our bank partners, SMBC and ICBC, performed flawlessly, and we’re pleased to have originated two new banking relationships for our client.”
Joining Carey in the deal were JLL’s Owen Claypool, Emma Buch and Patrick Wu.
Keith Loria can be reached at Kloria@commercialobserver.com.
