EagleBank Provides $45 Million in Financing to A. J. & C. Garfunkel to Refinance Corridor Marketplace Shopping Center

BETHESDA, Md., May 16, 2023 (GLOBE NEWSWIRE) — EagleBank (NASDAQ: EGBN), one of the largest community banks in the Washington, D.C. area, today announced it has provided A. J. & C. Garfunkel a $45 million dollar loan for its Corridor Marketplace property located in Laurel, Maryland.

Corridor Marketplace is a 452,102 square foot retail center located at the southwest corner of the intersection of the Baltimore Washington Parkway and Rt. 198 in Laurel, MD in Anne Arundel County. Considered a “power center,” Corridor Marketplace’s primary tenants include Kohls, Hobby Lobby, Total Wine & More, Target, Big Lots and Aldi. This shopping center is conveniently located less than 12 miles from Baltimore-Washington International Airport, and a short drive from nearby cities including Baltimore and Laurel.

“From application to closing, working with EagleBank was a quick and seamless experience,” said Charles Garfunkel, Co-Owner of A. J. & C. Garfunkel and President of Garfunkel Development Corporation. “Our relationship management team ensured we received the right guidance to close this deal, and we look forward to partnering with EagleBank again on upcoming projects in the region.”

The transaction was handled by EagleBank’s experienced commercial real estate team, including Senior Vice President, Market Executive Kathy Harbold, and Vice President, CRE Portfolio Manager David Redmond.

“This loan project and partnership is representative of EagleBank’s growing loan portfolio across the Washington, DC metro region,” said Ryan Riel, Executive Vice President and Chief Real Estate Lending Officer. “Our Relationships FIRST client promise continues to offer the best service experience in the region. Our clients value this and continue to trust us in delivering the best possible loan outcome for their business needs.”

About A. J. & C. Garfunkel

A. J. & C. Garfunkel is an experienced and knowledgeable commercial real estate and insurance company that has been in business for over 100 years. Located in Savannah, Georgia, A. J. & C. Garfunkel specializes in the development, acquisition, management and insuring of commercial real estate. Our projects include retail, mixed use and industrial properties totaling over 3.5 million square feet across the United States.

About EagleBank

Eagle Bancorp, Inc. is the holding company for EagleBank, which commenced operations in 1998. EagleBank is headquartered in Bethesda, Maryland, and conducts full service commercial banking through 14 offices, located in Suburban, Maryland, Washington, D.C. and Northern Virginia. EagleBank focuses on building relationships with businesses, professionals, and individuals in its marketplace.