REBusinessOnline

Mag Mile Capital Arranges $8.6M Acquisition Loan for Days Inn Hotel in Downtown Baltimore

BALTIMORE — Mag Mile Capital has arranged an $8.6 million acquisition loan for a 250-room Days Inn hotel located at 100 Hopkins Place in downtown Baltimore. The three-year, non-recourse, cash-out bridge loan was underwritten with an 8 percent interest rate with two-one year extension options. The borrower and direct lender were not disclosed. Situated near Baltimore’s Inner Harbor district and Oriole Park at Camden Yards, the Days Inn hotel features a 24-hour reception desk, bar and …

IPA Arranges $24.5M Sale of Gaitherstowne Plaza Shopping Center in Metro D.C.

GAITHERSBURG, MD. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale of Gaitherstowne Plaza, a 71,329-square-foot shopping center in the Washington, D.C., suburb of Gaithersburg. Manhasset, N.Y.-based Millbrook Properties purchased the center from an affiliate of the U.S. division of Israel-based BIG Shopping Centers Ltd., BIG Shopping Centers USA, for $24.5 million. Dean Zang, David Crotts and Josh Ein of IPA represented the seller in the …

JLL Brokers $278M Sale of Eight-Property Grocery-Anchored Retail Portfolio

OAK BROOK, ILL. — JLL’s Capital Markets group has arranged the $278 million sale of an eight-property, grocery-anchored retail portfolio. The buyer was Inland Real Estate Income Trust Inc.The properties were 88.5 percent leased at the time of sale to tenants including Ralphs, Target, Whole Foods Market, Giant, Trader Joe’s, Sprouts Farmers Market, Nordstrom Rack, Starbucks Coffee, Rite Aid and Sierra Trading Post.The properties span 687,000 square feet and include: Olde Ivy …

Monarch Plans $80M Seniors Housing Community in White Marsh, Maryland

WHITE MARSH, MD. — Monarch Communities has unveiled plans for Monarch White Marsh, a 188-unit independent living, assisted living and memory care community in the Baltimore suburb of White Marsh. Construction is scheduled to begin this month on the $80 million project. The property is incorporated into a 113-acre, master-planned, mixed-use development known as Villages of White Marsh. The community will be connected to a 20-acre park via a walking bridge, providing access to 40 acres of open …

Catalyst Healthcare, Bain Capital Break Ground on 60,000 SF Medical Office Building in Laurel, Maryland

LAUREL, MD. — Catalyst Healthcare Real Estate and Bain Capital Real Estate have broken ground on a 60,000-square-foot medical office building in Laurel, a city about midway between Baltimore and Washington, D.C. The property will be connected to the University of Maryland Capital Region Health Hospital by an enclosed skyway and offer outpatient services, including family medicine, imaging, internal medicine, oncology, orthopedics, pharmacy, physical therapy, OB/GYN and dialysis. The building, …

GIP Sells Government-Anchored Office Building in Hyattsville, Maryland for $45M

HYATTSVILLE, MD. — Government Investment Partners (GIP) has sold a 189,000-square-foot office building located at 3311 Toledo Road in Hyattsville for $45 million. The Deer Park, Ill.-based company purchased the 10-story office building in 2019 for $16 million as part of a joint venture. Located about seven miles of northeast of Washington, D.C., the property is anchored by the Centers for Disease and Control’s (CDC) National Center for Health Statistics and the Department of Justice. Shaun …

Developers Turn to CPACE Financing to Achieve Better Returns Amid Rising Costs Environment

By Jason Schwartzberg, President of MD Energy AdvisorsThe real estate development industry has been negatively impacted by a continued series of hardships over the past 24 months, including rapidly escalating construction costs, breakdowns in the supply chain, inflation, labor shortages, rent freezes and, most recently, rising interest rates.Many projects are still managing to receive financing and get underway, but the current environment presents significant challenges for owners and …

Link Logistics Sells Six-Property Industrial Portfolio in Mid-Atlantic for $67.5M

BALTIMORE — New York-based Link Logistics has completed the disposition of Beltway+ Industrial Portfolio, a six-property, 430,118-square-foot industrial portfolio located in the Mid-Atlantic region. Massachusetts-based High Street Logistics Properties acquired the portfolio for $67.5 million.Situated in the Baltimore-Washington Corridor, Beltway+ Industrial Portfolio was 92 percent leased at the time of sale to 26 tenants. The largest asset in the portfolio is a 114,980-square-foot, …

Foundry Commercial Buys 24-Property Spring Arbor Senior Living Portfolio in Mid-Atlantic

ORLANDO — Foundry Commercial, in partnership with an investment fund managed by Morgan Stanley Real Estate Investing, has purchased the Spring Arbor Senior Living collection of 24 assisted living and memory care communities across the Mid-Atlantic. As part of the transaction, Foundry Commercial acquired the current operator, which will continue to manage the properties post-closing.The portfolio contains 1,424 units throughout Maryland, North Carolina and Virginia, with capacity for more …

UIP Plans $112M Canvas Mixed-Use Project in Hyattsville, Maryland

HYATTSVILLE, MD. — Urban Investment Partners Inc. (UIP) has secured debt and equity financing for Canvas, a $112 million mixed-use development in downtown Hyattsville.The six-story project will be located at 5300 Baltimore Ave. and feature 285 one- and two-bedroom apartments, 31,660 square feet of ground-floor retail space and 681 parking spaces.Washington, D.C.-based UIP is financing the project using $27.1 million in equity, including $19.1 million from crowd-sourced capital raised …

Content Partners
‣ Arbor Realty Trust
‣ Bohler
‣ Lee & Associates
‣ Lument
‣ NAI Global
‣ Northmarq
‣ Walker & Dunlop

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