LEASEHOLD INTEREST IN BALTIMORE MEDICAL BUILDING TRADES FOR $21.75M

BALTIMORE — New York-based Promed Acquisition Inc. has purchased a leasehold interest in four floors of the eight-story Johnston Professional Building on the campus of MedStar Union Memorial Hospital in Baltimore. Johnston Professional LP sold the leasehold interest for $21.75 million. The first four floors are owned and operated by the hospital and the top four floors are subject to a long-term air rights lease. The property is located at 3333 N. Calvert St. and is fully occupied with tenants MedStar Union Memorial Hospital and Greater Chesapeake Orthopedic Associates. Jonathan Carpenter, James Wellschlager and Douglas Brinkley of Cassidy Turley represented the seller.