REBusinessOnline

Hunt Provides $33.8M Acquisition Loan for Apartment Property Near Baltimore

PIKESVILLE, MD. — Hunt Real Estate Capital has provided a $33.8 bridge loan for the acquisition and renovation of a 208-unit multifamily community in Pikesville, located roughly 15 miles northwest of downtown Baltimore. The community includes a mix of one- and two-bedroom apartment units and features a pool, resident clubhouse, fitness center and storage space. The undisclosed borrower plans to use proceeds of the loan to renovate the property. Interior upgrades include new quartz/granite …

Broadtree Residential Acquires Three Apartment Communities in Baltimore, Pennsylvania for $137.5M

BALTIMORE AND CAMP HILL, PENN. — Broadtree Residential Inc. has acquired three multifamily communities located in Baltimore and Pennsylvania for $137.5 million. The multifamily REIT acquired the assets from affiliates of Chesapeake Realty Partners (CRP) as part of its inaugural Umbrella Partnership Real Estate Investment Trust (UPREIT) transaction. In an UPREIT transaction, property owners contribute real estate to the fund’s operating partnership on a tax-deferred basis in exchange for …

Armada Hoffler Announces Two Mixed-Use Developments in Baltimore, Atlanta

BALTIMORE AND ATLANTA — Armada Hoffler Properties Inc. (NYSE: AHH), a commercial real estate developer and investor based in Virginia Beach, is participating in two new mixed-use projects in Baltimore and Atlanta. The REIT’s wholly owned subsidiary, Armada Hoffler Construction Co., will serve as general contractor for both developments. In Baltimore’s Inner Harbor East district, Armada Hoffler is developing Wills Wharf, a 12-story mixed-use building that will anchor the 27-acre Harbor …

Alliant Provides $12.5M Refinancing for Parking Facility at Baltimore-Washington International Airport

LINTHICUM HEIGHTS, MD. — Alliant Credit Union has provided a 10-year, $12.5 million loan to refinance a remote airport parking facility at Baltimore-Washington International Airport. The 850,852-square-foot site includes 2,156 parking spaces and is located less than one mile from the main terminal building at the airport. The facility is privately owned and managed. The name of the borrower was not

GBT, Partners Acquire Retail, Entertainment Center in Metro D.C. for $92M

SILVER SPRING, MD. — GBT Realty Corp., in partnership with Equity Resource Investments and Avante Financial Group, has acquired Ellsworth Place, a five-story retail and entertainment center in Silver Spring, for $92 million. Newmark Knight Frank arranged the transaction on behalf of the seller, a joint venture between Rockwood Capital and Petrie Richardson Ventures. Rialto provided acquisition financing. The 350,000-square-foot property spans a city block and is bordered by Fenton Street, …

M&T Realty Capital Provides $62.5M Freddie Mac Loan for New Multifamily Property Near Baltimore

JESSUP, MD. — M&T Realty Capital Corp., a wholly owned subsidiary of M&T Bank, has provided a $62.5 million Freddie Mac loan for the permanent financing of The Elms at Shannon’s Glen, a 364-unit multifamily community in Jessup, roughly 15 miles southwest of Baltimore. Matthew Hodson and Debra Goldstein of M&T Realty Capital structured the 12-year loan with eight years of interest-only payments and a 30-year amortization schedule on behalf of the borrower, Elm Street …

WPC Receives $35M Loan for Refinancing of Office Building in Metro D.C.

SILVER SPRING, MD. — Washington Property Co. (WPC) has received a $35 million loan for the refinancing of 8757 Georgia Avenue, a 242,000-square-foot office building in Silver Spring, roughly six miles north of Washington, D.C. Tyler Blue and Paul Wallace of Berkadia arranged the loan through Wells Fargo. WPC acquired 8757 Georgia Avenue in 2001 and invested $20 million to renovate the property. At the time of sale, the building was 87 percent leased to tenants including Conflulytics, Social …

Warfield Buys Historic 91-Acre Site Near Baltimore for Mixed-Use Redevelopment

SYKESVILLE, MD. — Warfield Cos. has acquired a 91-acre site in Sykesville, roughly 25 miles northwest of Baltimore, with plans deliver a new mixed-use project. Upon completion, the former site of the Springfield Hospital Center will include 600,000 square feet of office, light industrial and retail space, as well as roughly 180 residential units, a full-service hotel and a 27-acre town park. The site, which will be rebranded “Warfield at Historic Sykesville,” includes 12 buildings that …

FRP Development Sells 40-Property Warehouse Portfolio in Baltimore-D.C. Corridor to Blackstone for $347.2M

BALTIMORE — FRP Development Corp., a Baltimore-based development and investment company, has sold 40 industrial warehouse properties and three adjacent land parcels in the Baltimore-Washington corridor for $347.2 million. Blackstone Real Estate Partners acquired the assets. Another warehouse property in the portfolio was sold to its current tenants for $11.7 million. The sale of the portfolio will allow FRP to focus on its development pipeline in the metropolitan region, according to …

HFF Arranges $87.8M Sale of 468-Unit Multifamily Property in Germantown, Maryland

GERMANTOWN, MD. — HFF has arranged the $87.8 million sale of Rolling Hills, a 468-unit apartment community in Germantown. Walter Coker, Brian Crivella and Stephen Conley of HFF arranged the transaction on behalf of the seller, Clark Enterprises Inc., and procured the buyer, Pantzer Properties Inc. In addition, Jamie Leachman and Nicole Brickhouse of HFF arranged a Freddie Mac loan on behalf of Pantzer for the acquisition of the property. HFF will service the securitized loan. Rolling Hills …

Content Partners