Matan Companies Teams with Federal Capital Partners to Finance the National Cancer Institute at Riverside Research Park in Frederick, Maryland
The Matan Companies has teamed up with Federal Capital Partners (FCP) to complete the financing for the development of the National Cancer Institute’s 330,000 SF Advanced Technology Research Facility (ATRF) at Riverside Research Park in Frederick, Maryland. The state-of-the art 200-million-dollar office and laboratory facility will commence construction immediately and is slated for delivery in mid 2011. As part of the larger 177-acre Riverside Research Park, the National Cancer Institute’s 62-acre campus will have expansion capacity for another 570,000 square feet, reserved for life-science and advanced technology partner organizations. “This site will be the center of an intensive new effort to bring together government, industry, academic, and nonprofit partners, working side-by-side, utilizing technological resources second to none, to more rapidly translate our latest genetic and molecular discoveries about cancer into effective new treatments that benefit patients,” said John E. Niederhuber, M.D., director of the National Cancer Institute. With SAIC-Frederick, Inc. as its prime contractor, the new facility will be the only Federally-Funded Research and Development Center (FFRDC) in the country focused exclusively on biomedical research and development, with concerted technology and R&D partnership efforts toward reducing the burden of cancer.
Matan and FCP partnered to secure the 52-million-dollar construction financing from Wells Fargo Bank and US Bank. “Today’s financing environment demands creative approaches to bring large, high-profile projects like this to the market. The ATRF is one of the largest private biotech developments in the country to secure construction financing, and it is a credit to everyone involved,” stated Mark Matan, Principal of the Matan Companies. Matan Companies will develop and manage the project.
“We are incredibly excited to have formed this partnership with the Matan Companies to bring this very important project to fruition,” said Esko Korhonen, Managing Partner of FCP. “The diligent work by our teams resulted in consummating a great financing package, and we appreciated the opportunity to work with Wells Fargo, US Bank, Jones Lang LaSalle, and Cassidy & Pinkard to get this deal completed.”
Cassidy and Pinkard helped to secure the equity and debt for this transaction, and Jones Lang LaSalle represented the Tenant.