Roadside Development, the Washington, D.C.–based real estate investment and development firm known for its retail-driven, mixed-use and adaptive reuse projects, in partnership with Hudson Bay Capital, a global alternative asset manager, announced today the acquisition of Bethesda Towers, an approximately 600,000-square-foot three-building office campus in downtown Bethesda, Maryland. The seller, Moore & Associates, will continue to oversee property management.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260604160475/en/
Roadside Development and Hudson Bay Capital have acquired Bethesda Towers, an approximately 600,000-square-foot three-building office campus in downtown Bethesda, Maryland.
Drawing on its experience creating buzzworthy mixed-use destinations such as City Ridge in Northwest D.C., Roadside plans to strategically reposition Bethesda Towers over time.
“This is a truly exciting opportunity for us to do what we do best. The Bethesda Towers campus presents a large-scale parcel with the potential to become a unique and transformative place at the gateway to Bethesda,” said Jeff Edelstein, President. “We’ve had our eye on the property for quite some time and it will be a great collaboration with our partners at Hudson Bay Capital.”
“Bethesda Towers is an example of the selective, high-conviction real estate investment opportunities we seek—with a compelling basis and clear path to value creation,” said Eric Kaufman of Hudson Bay Capital. “Roadside brings deep expertise in this market, and we look forward to partnering with their team to realize an impactful long-term vision for the property and surrounding community.”
Located at 4330 East-West Highway, Bethesda Towers occupies a highly visible, transit-connected site in the heart of downtown Bethesda, walkable to its premier retail and dining, cultural and lifestyle amenities, including Bethesda Row, the Capital Crescent Trail and the Bethesda Metro Station. The property is a unique piece of real estate connecting to both East-West Highway and Montgomery Avenue, providing convenient access to downtown Washington, D.C., Marriott International’s global headquarters, the National Institutes of Health (NIH), Suburban Hospital and other major employers.
“Bethesda Towers fits right into our portfolio of high-quality, transit-oriented assets in established urban markets,” said Rob Wolcheski, Partner at Roadside Development. “Bethesda continues to be an exceptional place to live, work and raise a family. We’re in the beginning stages of conceptualizing what comes next for the property and we look forward to sharing our vision with the community.”
Bethesda recently ranked No. 4 in the 2026 U.S. News & World Report Best Places to Live for Quality of Life rankings.
Roadside continues to advance a growing pipeline of acquisition and development opportunities and recently expanded into Pennsylvania with the purchase of the Galleria of Mt. Lebanon just outside of Pittsburgh.
Mychael Cohn of Cohn Property Group represented Roadside on the acquisition. David Borden and Jason Krane of Ackman-Ziff represented Roadside in arranging the debt and equity financing. Brian Ashin of Paul Hastings served as Roadside’s legal counsel.
ABOUT ROADSIDE DEVELOPMENT:
Roadside Development is a Washington, D.C.–based real estate investment and development firm focused on mixed-use, retail and adaptive reuse projects throughout the Washington, D.C. metropolitan region and select markets nationwide. Since its founding, the firm has established a track record of repositioning underutilized properties and delivering projects that combine strong retail merchandising, thoughtful design and long-term investment discipline. The firm’s portfolio includes notable developments such as City Ridge, City Market at O, Cityline at Tenley, Purcellville Gateway and Stonebridge at Potomac Town Center.
ABOUT HUDSON BAY CAPITAL:
Hudson Bay Capital Management (“Hudson Bay”) is a global alternative asset manager serving outside investors since 2006. The Hudson Bay team seeks to achieve outstanding performance by uncovering market inefficiencies and undervalued investment opportunities that are uncorrelated to each other and to market indices while maintaining a focus on risk management, portfolio construction and capital preservation. To learn more, visit www.hudsonbaycapital.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20260604160475/en/
Media gallery
