• Type

    Office

  • Fund

    Realized

  • Address

    Bethesda Metro Center
    Bethesda, MD 20814

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Bethesda Metro Center

Bethesda, MD

Property Overview

In October 1999, Meridian acquired the Bethesda Metro Center complex, comprised of a 381-room Hyatt Regency Hotel, a 366,042 square foot office building and a 1,330-space parking garage in a prime downtown, Bethesda, MD location adjacent to the Bethesda Metro Station.

Meridian was able to convert the property into an “A” property in an “A+” location. From 1999 through 2008 Meridian increased the complex’s occupancy from 85% to 95%, NOI by 87%, rents by 41% and parking revenue by 75%. Meridian orchestrated three separate equity recapitalizations and one exit which generated substantial profits over the life of the investment.