Northmarq arranges $27M refinance for CentrePointe Business Park in Hyattsville, MD

HYATTSVILLE, Md. (April 2, 2025) — Senior Vice President Michael Wyne of Northmarq’s Las Vegas Debt + Equity team secured $27 million in financing for CentrePointe Business Park, a premier 258,774-sq.-ft. flex-industrial property located at 801, 901 and 1001 Brightseat Rd. in Hyattsville, Maryland.

Northmarq arranged the five-year interest only loan on behalf of the borrower, a private real estate investment company, through a correspondent relationship with a CMBS conduit lender.

“This transaction represents the full strength of Northmarq’s deep capital markets relationships, and our ability to navigate complex financing transactions through those relationships to the benefit of our clients and their investors,” said Wyne. “This property presented several challenges due to a higher percentage of office for a flex property, a planned expansion space that requires a substantial landlord obligation for tenant improvements, as well as a last-minute holdover from a major tenant with an expiring lease. Despite all of this, we were able to successfully prepare a favorable structure both to our client and the B-piece investor in conjunction with our partners at Barclays Capital Real Estate, which yielded a sizeable cash-out for our borrower.”

Consisting of three buildings on a more than 20-acre campus, CentrePointe Business Park provides a high-quality flex environment ideal for multi-tenant occupancy. The property boasts ample parking, contemporary upgrades and a strategic location with direct access to Brightseat Road and Interstates 95 and 495. The property is backed by a credit-worthy tenant base in a close-in Washington, D.C. location that has become the center of new commercial, multifamily and government development in Prince George’s County.