Financing secured for The National Cancer Institute HQ in Maryland

WASHINGTON, D.C., Jan. 22, 2024 –  JLL Capital Markets announced today that it has arranged financing for The National Cancer Institute Headquarters Building, an eight-story, trophy office building in Rockville, Maryland.

JLL worked on behalf of the borrower, Affinius Capital, to secure the three-year syndicated loan, which was led by SMBC and jointly closed with Industrial and Commercial Bank of China Limited, New York Branch (“ICBC”).

Completed in 2012 as a build-to-suit headquarters facility for The National Cancer Institute (NCI), the property offers 586,524 square feet of sustainably designed, customized space, a mission-critical, on-site data center and a 2,041-space parking garage. The NCI recently executed a 10-year lease extension, carrying their term through 2033. This extension signifies the Agency’s continued commitment to the campus, and the vital role that this facility serves in their day-to-day operations. Consistent with NCI’s health-conscious mission, the building offers tenants a 3,000 square foot state-of-the-art fitness center, yoga studio, an in-house cafeteria with healthy dining options, and ample private outdoor space. 

The National Cancer Institute Headquarters Building is located within Maryland’s I-270 Biotech Corridor and more specifically within the Shady Grove Life Sciences Center, which boasts the largest concentration of medical and scientific innovation in the region. In addition, the property has excellent access to I-270, the Metro Red Line and the MARC Commuter Rail to access the Greater Washington, D.C. area and beyond.

The JLL Capital Markets Debt Advisory team representing the borrower was led by Managing Director Rob Carey, Director Owen Claypool, Associate Emma Buch and Analyst Patrick Wu.

“In a market environment where the office sector is facing significant headwinds, the quality of the real estate, tenancy and sponsorship commanded strong interest from the debt market,” Carey said. “Our bank partners, SMBC and ICBC, performed flawlessly, and we’re pleased to have originated two new banking relationships for our client.”

JLL’s Capital Markets group is a full-service global provider of capital solutions for real estate investors and occupiers. The group’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

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