In-Rel Properties has acquired a 16 story office building located at 7500 Old Georgetown Road in Bethesda, for $29.85 million, according to a report by Commercial Observer.
Per the report, In-Rel acquired the property for $29.85 million in a short sale- significantly less than its previous sale price of $133 million just four years ago. The building, purchased by a joint venture between Rockwood Capital and Stonebridge in 2019, faced financial challenges during the pandemic despite a 2022 renovation. With the building only 40 percent leased, the sale was prompted by the landlords’ remaining $100 million in loans.
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FEST OF SPRING Caribbean Wine Food & Music Festival
Get ready to experience the vibrant colors, tantalizing flavors, and infectious rhythms of the Caribbean at the FEST OF SPRING Caribbean Wine Food & Music Festival! Hosted by RHU LLC, this exciting festival is set to take place on May 18, 2024, at the picturesque 16700 Barnesville Rd in Boyds, MD.
Step into a world where the Caribbean spirit comes alive! From 12:00 PM onwards, immerse yourself in a sensory journey that celebrates the unique culture, cuisine, and music of the Caribbean. Whether you’re an African American, a Reggae or Soca music enthusiast, a wine lover, or part of the vibrant Caribbean diaspora, this festival promises to delight and captivate you in every way.
