EagleBank Provides Financing for Strathmore Square Development in North Bethesda
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Wednesday, February 22, 2023
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BETHESDA, Md., Feb. 22, 2023 (GLOBE NEWSWIRE) -- EagleBank (NASDAQ: EGBN), one of the largest community banks in the Washington, D.C. area, today announced it will provide $94,000,000 in financing to Aimco and Fivesquares Development, LLC to launch the construction of Phase 1 of Strathmore Square in North Bethesda, Maryland.
Key Points:
- BETHESDA, Md., Feb. 22, 2023 (GLOBE NEWSWIRE) -- EagleBank (NASDAQ: EGBN), one of the largest community banks in the Washington, D.C. area, today announced it will provide $94,000,000 in financing to Aimco and Fivesquares Development, LLC to launch the construction of Phase 1 of Strathmore Square in North Bethesda, Maryland.
- Strathmore Square is located across from the Grosvenor-Strathmore Metrorail Station, at the intersection of Rockville Pike and just north of the Washington D.C. beltway.
- The unique architecture of the buildings features elegantly terraced buildings with the majority of units having generous balconies and views of Rock Creek Park or the new central square.
- "North Bethesda is a vibrant, fast-growing community with a rich culture,” said Ryan Riel, Executive Vice President and Chief Real Estate Lending Officer at EagleBank.