BALTIMORE — Cushman & Wakefield has arranged the $32.8 million sale of 120 E. Baltimore St., a 25-story office tower in Baltimore. Graham Savage and Nicole Keelty of Cushman & Wakefield arranged the transaction on behalf of the buyer, Boston-based Grander Capital Partners. The seller was not disclosed. At the time of sale, the office building was 75 percent leased to SunTrust Bank, State of Maryland Pension System and the Baltimore City State Attorney’s Office.
GAMBRILLS, MD. — Walker & Dunlop has arranged a $61.1 million loan for the development of Monarch at Waugh Chapel, a 246-unit apartment community under construction in Gambrills, roughly halfway between Baltimore, Md., and Washington, D.C. Dee McClure of Walker & Dunlop arranged the financing through the United States Department of Housing and Urban Development (HUD)’s 221(d)(4) new construction program on behalf of the borrower and developer, a joint venture between Bozzuto..
FREDERICK, MD. — Norfolk, Va.-based S.L. Nusbaum Realty Co. has opened The Fred, a 240-unit apartment community located in the Waverly View Planned Neighborhood Development in Frederick. Constructed by Morgan-Keller Construction Co., the property features mountain views, a clubhouse, fitness center, swimming pool, business center, car charging station and a playground. The Fred offers a mix of one- to three-bedroom units that feature vaulted ceilings, granite countertops, in-unit washers and..
GAITHERSBURG, MD. — Urban Investment Partners (UIP) has acquired Walker House, a 212-unit apartment community located along the Interstate 270 corridor in Gaithersburg, roughly 23 miles northwest of Washington, D.C. CBRE represented the seller, Washington REIT, in the $31.8 million transaction. Capital One provided acquisition financing for the asset. Walker House includes 196 apartment units constructed in 1971, plus 16 garden apartments constructed in 2003. UIP will renovate the property..
TOWSON, MD. — Pillar Financial, a division of SunTrust Bank, has originated a $58.8 million Freddie Mac loan for the acquisition of The Winthrop, a 295-unit apartment community in Towson, roughly 13 miles north of Baltimore. Cullen O’Grady of Pillar originated the 10-year, fixed-rate loan with a 30-year amortization schedule on behalf of the borrower, a private investment group. Scott Park of Columbia National Real Estate Finance arranged the transaction. Located at 913 Southerly Road, the..
BETHESDA, MD. — Capital One has provided $311 million in financing to recapitalize a 28-asset medical office building portfolio located across 11 states. The portfolio was 95 percent leased to 150 tenants at the time of sale, with eight of the buildings each occupied by a single tenant. The borrower was a joint venture between an institutional investor and another joint venture between Kayne Anderson Real Estate Advisors and MB Real Estate Healthcare, which previously owned the 1.5..
BETHESDA, MD. — Capital One has provided a $51 million Fannie Mae loan for the acquisition of Rock Spring, a 386-unit multifamily community in Bethesda. Kristen Croxton and Greg Reed of Capital One originated the seven-year, fixed-rate loan with three years of interest-only payments and five years of yield maintenance on behalf of the borrower, Fairfield Residential. The property is subject to the Maryland Moderately Priced Dwelling Unit Program, which requires 70 units to be affordable to..
BETHESDA, MD. — AXA Investment Managers – Real Assets has acquired a majority stake in Montgomery Tower, a 367,000-square-foot office building in Bethesda, for $139.8 million. The firm acquired the interest from a joint venture between Rockpoint and MRP Realty, which will retain its ownership interest and continue to manage the property as AXA’s new joint venture partner. The 12-story, LEED Gold-certified building was constructed in 1980 and was recently renovated. Amenities include an..
BETHESDA, MD. — The Donohoe Cos. and USAA Real Estate have acquired 7101 Wisconsin Ave., a 230,904-square-foot office building in Bethesda, a suburb of Washington, D.C. HFF marketed the property on behalf of the seller, a joint venture between Brandywine Realty Trust and Allstate Investments, and procured the buyers. The Washington Business Journal reports the asset sold for $105.7 million. Situated a quarter-mile from the Bethesda Metrorail Station, 7101 Wisconsin was renovated in 2015 with..
FORESTVILLE AND CAPITOL HEIGHTS, MD. — Federal Capital Partners (FCP), in a joint venture with Urban Atlantic, has acquired two apartment assets in metro Washington, D.C. for a combined $44 million. Christine Espenshade and Robert Garrish of JLL arranged the transaction on behalf of the buyer. Located at 5521 Marlboro Pike in Forestville, Holly Springs Meadows is roughly 12 miles southeast of Washington, D.C. The pet-friendly community features modern kitchens, a playground and open courtyard..