WEBSTER FINANCIAL CORPORATION Media Contact: Brenda F. Greene (401) 228-2083 bgreene@websterbank.com
Webster Bank Provides $14 Million Financing Package
For Rockville Office Building
WASHINGTON, D.C., January 28, 2015 - Webster Bank, a leading regional bank serving businesses and consumers in the northeast, announces that it is providing JGB Companies, a private real estate investment firm based in Chevy Chase, Md., with $14 million in financing for a Class A office building in Rockville, Md.
The 4-story, 63,000 square foot office building at 11333 Woodglen Drive was developed by JBG in
2004, and is anchored by Georgetown University and the Paladar Restaurant. The building is located within walking distance of the White Flint Metro Station and sits adjacent to JBG's recently completed North Bethesda Market mixed used development. The 5-year loan structured by Webster Bank will allow JBG to maximize value of the asset through strategic leasing while development plans for the surrounding buildings proceed expanding the neighborhood amenity base.
The deal was structured by Peter Burke, vice president, commercial real estate in Webster's new Washington, D.C. commercial lending office. This transaction represents Webster's the first loan to The JBG Companies. Burke joined Webster in March of 2014.
About The JBG Companies:
Headquartered in Chevy Chase, Md., The JBG Companies is a private real estate investment firm that develops, owns and manages office, residential, hotel and retail properties. The company has more than $10 billion in assets under management and development in the Washington, DC area. Since 1960, JBG has been active in the areas where it invests, striving to positively impact local communities. For more information, please visit www.JBG.comor find us on Twitter @TheJBGCompanies and Facebook facebook.com/TheJBGCompanies.
About Webster:
Webster Financial Corporation is the holding company for Webster Bank, National Association. With $22.5 billion in assets, Webster provides business and consumer banking, mortgage, financial planning, trust and investment services through 164 banking centers, 313 ATMs, telephone banking, mobile banking, and the Internet. Webster Bank owns the asset-based lending firm Webster Business Credit Corporation; the equipment finance firm Webster Capital Finance Corporation; and HSA Bank, a division of Webster Bank, which provides health savings account trustee and administrative services. Webster Bank is a member of the FDIC and an equal housing lender. For more information about Webster, including past press releases and the latest annual report, visit the Webster website at www.websterbank.com.
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