Rubenstein Partners and Trammell Crow Company Announce $15.0M Financing for Maryland Trade Center III, Provided by First Niagara Bank, N.A.

January 12, 2016 – Philadelphia – Rubenstein Partners, L.P., (including its affiliates, “Rubenstein”), in partnership with an entity of Trammell Crow Company (“Trammell Crow”), announced today the closing of a $15.0 million senior secured loan commitment for Maryland Trade Center III, a 192,000-square-foot Class A office property.  First Niagara Bank, N.A. is providing the new loan facility.

Maryland Trade Center III is located at the intersection of the Capital Beltway and MD 295, within the Greenbelt submarket of Washington, D.C.  The Rubenstein / Trammell Crow partnership is leasing the office space following a significant modernization project.  Recent building renovations include modernization of the lobby and upgrades to restrooms & building systems.  The ownership previously extended a lease with PNC for a 2,675-square-foot bank branch on site and transformed it into a separate condominium, which was sold to a net lease investor in 2015.

The new loan commitment, which has a term of up to five years, provides for future funding associated with continued leaseup.  A CBRE debt placement team led by David Webb and Erik Binkowski represented the Rubenstein / Trammell Crow partnership in securing the loan.

“In partnership with Trammell Crow we are continuing to execute our plan to add value to Maryland Trade Center III and we are pleased to grow our relationship with First Niagara through this transaction,” said Scott Whittle, Director of Finance for Rubenstein.

“First Niagara is delighted to work with Rubenstein and Trammell Crow to provide financing for this exciting project,” said Steve Weeks, First Vice President for Commercial Real Estate at First Niagara. “They have been a pleasure to work with and we look forward to the successful completion of the lease up of Maryland Trade Center III.”

About Rubenstein Partners

Rubenstein Partners, founded in September 2005, is a private real estate investment management and advisory firm with operations throughout the Eastern United States.  The firm is led by its founder, David Rubenstein, and a group of senior real estate executives, and is focused on directing and managing value-added office real estate investments, primarily in the Eastern United States. Rubenstein Partners’ predecessor company, The Rubenstein Company, LP and affiliates, founded in 1969, was one of the largest private owner operators of Class A office real estate in the Mid-Atlantic, owning and operating a portfolio of assets valued at approximately $1.2 billion at the time of its disposition in 2004. Since 2005, Rubenstein Partners has, on behalf of its investors and clients, invested in more than 10,000,000 sq. ft. of office real estate assets throughout the Eastern United States. For more information, visit

About Trammell Crow Company

Trammell Crow Company (TCC), founded in 1948, is one of the nation’s leading developers and investors in commercial real estate. The Company has developed or acquired nearly 2,600 buildings valued at nearly $60 billion and over 540 million square feet. As of September 30, 2015, TCC had $6.7 billion of projects in process and $4.0 billion in its pipeline. Trammell Crow Company’s teams are dedicated to building value for its clients with professionals in 16 major cities throughout the United States. The company serves users of and investors in office, industrial, retail, healthcare, multi-family residential, through its operating subsidiary High Street Residential, and mixed use projects. For those who occupy real estate, TCC can execute the development or acquisition of facilities tailored to meet its clients’ needs. For investor clients, the company specializes in joint venture speculative development, acquisition/re-development ventures, build-to-suit development, or providing incentive-based fee development services.

TCC is an independently operated subsidiary of CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, and the world’s largest commercial real estate services and investment firm (in terms of 2014 revenue). For more information visit

About First Niagara

First Niagara, through its wholly owned subsidiary, First Niagara Bank, N.A., is a multi-state community-oriented bank with approximately 390 branches, $39 billion in assets, $28 billion in deposits, and approximately 5,400 employees providing financial services to individuals, families and businesses across New York, Pennsylvania, Connecticut and Massachusetts.  For additional information on First Niagara, visit us at, follow us on Twitter @FirstNiagara, or like us on Facebook at FirstNiagaraBank.