Rockville Archives - Page 228 of 360

Rockville’s Camber Creek Raises over $100 million for Opportunity Fund I for Investment in Real Estate Technology

Published February 22, 2023 at 8:17AM

Rockville-based Camber Creek, a global financial platform focused on driving innovation in the real estate industry that’s located at 5410 Edson Lane, announced that it exceeded its target for Opportunity Fund I with capital commitments of over $100 million. In 2022, Camber Creek closed its fourth core venture fund, which it oversubscribed with $325 million in capital commitments. The Opportunity Fund, whose Limited Partners include existing and new institutional and strategic investors, gives the firm an opportunity to retain its pro rata on earlier investments as well as invest in opportunities unique to the current market environment.

Per the press release: Camber Creek now has over 300 strategic Limited Partners representing leading global real estate owners, operators, and service providers. Camber Creek invests in leading proptech companies, including Arcadia, Bilt Rewards, Curbio, Flex, HappyCo, Measurbl, Notarize, and VTS.

KLNB Acquires Edge Commercial Real Estate; Looks to Establish Greater Presence in Montgomery County

By MCS Staff

Published February 22, 2023 at 8:09AM

KLNB, the Mid-Atlantic region’s largest privately held CRE brokerage firm, has announced the acquisition of Edge Commercial Real Estate, the 16-year-old Rockville, Md.-based brokerage with offices in Maryland, Virginia, and Washington, D.C.. The deal allows KLNB to establish a greater presence in Montgomery County, something KLNB has been eager to do.

Per the press release: The deal will increase KLNB’s size by roughly 20%, adding 32 total employees, 18 of which are brokers who specialize in multiple facets of office, industrial, tenant representation, and multi-family investment sales and leasing. Six of the brokers will be immediately installed as principal partners at KLNB. The official financial details of the acquisition have not been disclosed, but the transaction includes substantially all of Edge’s assets.

Georgetown Prep Music Teacher Releases EP

By MCS Staff

Published February 21, 2023 at 8:26PM | Updated February 21, 2023 at 8:46PM

Sean Gaiser is a class ‘98 Georgetown Prep alumnus and a current music teacher at the Jesuit college-preparatory school in North Bethesda (the only only Jesuit boarding school in the United States). He and Billy Glading (Gonzaga ‘99) have recently released a new five-song EP titled “Wildflower.” The title of the album was inspired by Sean’s sister, Caroline, who passed away in February 2020.

Per a Georgetown Prep news release, his sister, Caroline, was a free spirit who loved flowers. Gaiser chose a fox on the cover because they frequent his house and stare at him and he feels in his heart the foxes represent his sister. The third song on the album is a tribute to Caroline. This is Sean’s third album and he says, “I am always writing music and enjoy starting new projects. I plan to never stop making music.” Sean and Billy said this is their most personal and challenging piece of work yet, and took 5 years to create.You can listen to the album on Amazon Music, Apple Music, Spotify and YouTube.

MCFRS Respond to Transfer Station After Vehicle Gets Stuck Suspended in the Air

By Patrick Herron

Published February 21, 2023 at 4:47PM

The Montgomery County Fire and Rescue Services (MCFRS) Technical Rescue Team responded to the Montgomery County Shady Grove Transfer Station and Recycling Center at 16101 Frederick Rd in Rockville on Tuesday afternoon after a vehicle was dumping trash on the tipping floor, its weight shifted, and the occupied cab went up in the air. According to Chief Spokesperson for MCFRS Pete Piringer, rescue crews stabilized the truck and have removed the driver. There were no injuries reported.

Per @mcfrsPIO on Twitter: “Update – 16101 Frederick Rd, Transfer Station, vehicle mishap involving occupied (driver) dump truck, stuck/suspended in air, vehicle being stabilized (in order to ecract/remove driver) via ladder, plant operations have been shut down, @mcfrs TRT (Technical Rescue Team) on scene”

Update: Maryland State Police Investigating Fatal Single-Vehicle Crash That Occurred Tuesday Morning; Identity of Victim Released

By Patrick Herron

Published February 21, 2023 at 3:06PM | Updated February 21, 2023 at 6:44PM

Per the Maryland State Police: Maryland State Police are continuing to investigate a fatal crash that occurred Tuesday morning in Montgomery County. Shortly before 5:01 a.m. on Tuesday, troopers from the Maryland State Police Rockville Barrack responded to the area of eastbound Interstate 495, prior to the Route 355 exit for a report of a crash involving injuries. According to a preliminary investigation, a Chevrolet Cobalt, for unknown reasons, traveled off the right side of the highway, striking an embankment and tree.

The driver of the vehicle, identified as Tera King, 18, of Weejun Loop, Woodbridge, Virginia, was pronounced deceased at the scene by Montgomery County EMS personnel. The lone passenger in the car, a 20-year-old male, was transported by ambulance to Suburban Hospital for treatment of his injuries. Anyone with information related to this crash is asked to contact the Maryland State Police Rockville Barrack at 301-424-2101. The cause of the crash remains under investigation.

Rockville Town Center Master Plan Update to Kick Off with Listening Sessions

By Patrick Herron

Published February 21, 2023 at 2:13PM

Per the City of Rockville: The City of Rockville will host four interactive listening sessions to kickoff outreach and engagement for the Town Center Master Plan update, which will help guide the area’s success in coming decades.

The same material will be covered at all listening sessions, so only one needs to be attended. Light refreshments and a children’s activity area will be available at the in-person sessions.

Google Provides Universities at Shady Grove with $500K Gift to Strengthen Pathway Programs

By Patrick Herron

Published February 21, 2023 at 10:37AM

Per the Universities at Shady Grove: Google and the Universities at Shady Grove (USG), a regional higher education center in Maryland, are partnering to help shape how higher education institutions can best ensure the success of a rapidly changing and increasingly less traditional student population, by building targeted pathways to degree completion and strong career opportunities. Google has provided a $500,000 gift to USG to support the development of educational pathway analytics, with a long view of systemic change in the way higher education serves the “fluid” learner of today and tomorrow. The goal is to develop an applied research framework for measuring, assessing and learning how to design and implement pathway programs that lead students to college degree completion and career success, and support workforce development. This gift is part of the Grow with Google initiative that helps create new career opportunities through skill development and new pathways to the workforce.

USG is a regional higher education center of the University System of Maryland (USM) in Rockville, Md., which offers nearly 80 undergraduate and graduate-level programs from nine different state universities on one campus. All undergraduate programs offered at the campus provide the upper-division coursework toward bachelor’s degrees and are tailored to serving transfer students, many of whom follow a path from high school to community college, before being admitted into one of the universities that offer some of their programs at USG.

Governor Wes Moore and Lt. Governor Aruna Miller Visited North Bethesda on Friday

By Patrick Herron

Published February 20, 2023 at 12:13PM

Per Montgomery County: Montgomery County Executive Marc Elrich, Montgomery County Council members, and representatives from the University of Maryland, College Park (UMD), the University of Maryland, Baltimore (UMB), the University of Maryland Medical System (UMMS), and the Washington Metropolitan Area Transportation Authority (WMATA) welcomed Maryland Governor Wes Moore and Lt. Governor Aruna Miller to the Pike District for a presentation and update on the UM-Institute for Health Computing project. The Institute for Health Computing is a planned research facility and academic presence at the North Bethesda Metro Station in the Pike District that will serve as an anchor and attraction to developers and businesses. The Institute will include research in Artificial Intelligence (AI), Machine Learning and Virtual and Augmented Reality (VR/AR).

Here is a Power Point presentation from the event.

Rockville’s DSFederal Announces Clement Chen as CEO

By MCS Staff

Published February 19, 2023 at 4:06PM

Rockville-based DSFederal, Inc., a government focused leader in data science and digital solutions located at 6100 Executive Blvd, announced the appointment of Clement Chen as its new chief executive officer. He will join Sophia Parker in leading the company’s next phase of transformation and growth. Parker will remain as chairwoman of the company. Chen will be focused on achieving the firm’s strategic, financial and operational goals and Parker will continue to focus on the people side of the business including client relationships, partnerships and employee engagement.

Per the press release: Founded in 2007, DSFederal is focused on empowering federal agencies to achieve their mission by connecting the dots between data, policy, people and technology. The company’s highly specialized team, deep public health expertise combined with a broad technology skill set enables them to derive insights to help shape federal policies and decisions.

Rockville’s Supernus Pharmaceuticals Secures $150 Million Loan

By MCS Staff

Published February 19, 2023 at 3:50PM

Rockville-based Supernus Pharmaceuticals, a biopharmaceutical company, located at 9715 Key W Ave, and focused on developing and commercializing products for the treatment of central nervous system (CNS) diseases, announced it entered into a credit line agreement (the “Credit Line”) with UBS Bank USA (“UBS”) providing the Company an uncommitted demand secured line of credit of up to $150 million, which can be drawn at any time.

Any fixed rate borrowing will bear interest at a fixed interest rate, equal to the sum of the UBS Fixed Funding Rate plus the applicable Percentage Spread established in the Credit Line. Any variable rate borrowing will bear interest at a variable interest rate, equal to the sum of the UBS Variable Rate plus the applicable Percentage Spread established in the Credit Line.

Food Delivery Driver Robbed on Fallsgrove Drive in Rockville Saturday Afternoon

By MCS Staff

Published February 19, 2023 at 2:55PM

At approximately 4:00 p.m. on Saturday, Rockville City Police responded to the 700 block of Fallsgrove Drive for the report of an armed robbery.

According to Rockville Police, a food delivery driver was approached by two men in their late teens to early 20’s dressed in all black clothing. The suspects displayed a handgun, robbed the victim of cash and fled on foot. The victim was not injured. Anyone with information regarding this incident is asked to contact the Rockville City Police Criminal Investigations Unit at 240-314-8938, as always callers may choose to remain anonymous. Featured photo courtesy of Google Maps.