Roadside Development, in partnership with Hudson Bay Capital, has acquired Bethesda Towers, a three-building office campus totaling approximately 600,000 square feet in downtown Bethesda, Maryland. The transaction adds a large, multi-building office asset to Roadside’s portfolio in a walkable, amenity-rich urban environment.
The seller, Moore & Associates, will remain involved with the property by continuing to oversee property management. This continuity is expected to provide operational consistency as the new ownership group evaluates and implements its strategy for the campus over time.
Roadside has indicated plans to strategically reposition Bethesda Towers, signaling an intent to enhance the property’s performance and relevance in the competitive downtown Bethesda office market. Specific details of the repositioning program were not disclosed, but the partnership emphasized a long-term approach to improving the asset.
On the capital markets side, Mychael Cohn of Cohn Property Group represented Roadside in the acquisition. David Borden and Jason Krane of Ackman-Ziff represented Roadside in arranging the debt and equity financing for the transaction, supporting the partnership’s business plan for the property. Legal counsel for Roadside was provided by Brian Ashin of Paul Hastings.
Bethesda Towers is located at 4330 East-West Highway and occupies a highly visible, transit-connected site in the heart of downtown Bethesda. The campus offers direct connectivity to both East-West Highway and Montgomery Avenue, providing convenient access to major thoroughfares serving the region.
The property is situated within walking distance of downtown Bethesda’s retail, dining, cultural, and lifestyle amenities, positioning it to benefit from the area’s established live-work-play environment. Its location also offers proximity to key demand drivers and major employers, including downtown Washington, D.C., Marriott International’s global headquarters, the National Institutes of Health, Suburban Hospital, and other institutions in the broader region.
With new ownership in place and Moore & Associates remaining on as property manager, Bethesda Towers is poised for a phased repositioning effort aimed at strengthening its competitiveness within the downtown Bethesda office market.
