Maryland

S.L. Nusbaum Realty Breaks Ground on $50M Apartment Community in Maryland

by John Nelson August 23, 2016

FREDERICK, MD. — S.L. Nusbaum Realty Co. has broken ground on The Fred, a $50 million, 240-unit apartment community located within the Waverly View Planned Neighborhood Development in Frederick. Norfolk, Va.-based S.L. Nusbaum partnered with the Maryland Community Development Administration, AGM Financial Services Inc., Wells Fargo Bank N.A. and Boston Financial Investment Management to develop The Fred. The general contractor, Morgan-Keller Construction Co., expects to deliver the project by early to mid-2018. Thomas Johnson III and Richard Counselman are leading S.L. Nusbaum’s development team.

August 23, 2016

Maryland Retail Southeast

Greysteel Brokers $28.6M Sale of Grocery-Anchored Shopping Center in Baltimore

by John Nelson August 9, 2016

BALTIMORE — Greysteel has arranged the $28.6 million sale of Catonsville Plaza, a nearly 280,000-square-foot grocery-anchored shopping center located at 5457 Baltimore National Pike in Baltimore. The property was 99 percent leased at the time of sale to tenants such as Shoppers Food Warehouse, Dollar General, Planet Fitness, Planet Aid, Merchant’s Tire & Auto Centers, Forman Mills, Salontra Suites, DaVita Dialysis, Dunkin’ Donuts, Subway and Metro PCS. Gil Neuman led Greysteel’s retail team in representing the seller, an affiliate of Hutensky Capital Partners, and procuring the buyer, Mosaic Realty Partners.

August 9, 2016

Industrial Maryland Southeast

Chesapeake Real Estate, Thompson Creek Window Sell Two Industrial Facilities in Maryland for $33M

by John Nelson August 3, 2016

HANOVER, MD. — A partnership between Chesapeake Real Estate Group LLC and Thompson Creek Window Co. has sold two industrial buildings totaling nearly 300,000 square feet in Hanover. PGIM Real Estate purchased the properties from the partnership for $33 million. The assets are located within Penn 95 Commerce Center and include a 167,500-square-foot spec warehouse building at 8210 Penn Randall Place and a 117,000-square-foot build-to-suit warehouse and manufacturing facility leased to Thompson Creek Window at 8300 Pennsylvania Ave. Brook Furniture Rental Inc. recently leased 66,606 square feet at the spec warehouse building.

August 3, 2016

Loans Maryland Office Southeast

NorthMarq Arranges $72M Refinancing of Columbia Corporate Park

by John Nelson August 2, 2016

COLUMBIA, MD. — NorthMarq Capital has arranged a $72 million loan for the refinancing of Columbia Corporate Park, a 495,000-square-foot office park located at 8825, 8830, 8840 and 8850 Stanford Blvd. and 8890 McGaw Road in Columbia. Joseph Burke of NorthMarq Capital’s Baltimore office arranged the 12-year loan through an unnamed life insurance company on behalf of the borrower. The loan features four years of interest-only payments followed by a 30-year amortization schedule.

August 2, 2016

Loans Maryland Multifamily Southeast

Capital One Provides $66.7M Acquisition Loan for Apartment Community in Metro D.C.

by John Nelson July 18, 2016

GREENBELT, MD. — Capital One has provided a $66.7 million acquisition loan for Gates of Cipriano, a 591-unit apartment community located at 8501 Greenbelt Road in Greenbelt. The asset is situated roughly 13 miles outside of Washington, D.C., and across the street from NASA’s Goddard Space Flight Center. Abe Hirsch, Jacob Katz and Zev Karpel of Meridian Capital Group arranged the 12-year, Fannie Mae loan through Capital One on behalf of the borrower, BDMG.

July 18, 2016

Maryland Retail Southeast Virginia

Weis Markets to Purchase 38 Food Lion Stores in Mid-Atlantic

by John Nelson July 15, 2016

SUNBURY, PA. — Weis Markets Inc., a Mid-Atlantic grocery retailer, has reached an agreement with Food Lion LLC to purchase 38 Food Lion supermarket locations in Maryland, Virginia and Delaware. The assets include 21 stores in Maryland, 13 in Virginia and four in Delaware. This transaction marks Weis Markets’ entry into Virginia and Delaware. Upon completion of the transaction and the purchase of five Mars Super Markets in Baltimore County, Weis will have increased its store count by 25 percent and will operate 202 stores in seven states — Pennsylvania, Maryland, Virginia, New York, New Jersey, Delaware and West Virginia. Weis Markets will convert the 38 stores to its brand upon completion of the transaction. The portfolio sale is part of a previously announced merger agreement between Delhaize Group, a Belgian food retailer with a presence in seven countries on three continents, and Koninklijke Ahold, a Dutch food retailer whose grocery brands include Stop & Shop and GIANT. The international retailers have agreed for their U.S. subsidiaries to sell 86 of their stores to other food retailers such as Sunbury-based Weis Markets.

July 15, 2016

Maryland Office Southeast

Columbia Property Trust Sells Office Asset in Metro D.C. to SunCap for $48M

by John Nelson July 13, 2016

GAITHERSBURG, MD. — Columbia Property Trust Inc. has sold an office property at 800 N. Frederick Ave. in Gaithersburg for $48 million. The buyer, SunCap Property Group, plans to redevelop the asset as a distribution center. The 40-acre property includes a 393,000-square-foot office building that formerly housed an IBM data center. Columbia Property Trust plans to use the proceeds from the transaction to reduce borrowings on its revolving credit facility.

July 13, 2016

Loans Maryland Seniors Housing Southeast

Capital One Closes $61M Loan, $12M Facility for Acquisition of Nine Skilled Nursing Facilities

by John Nelson June 29, 2016

BETHESDA, MD. — Capital One has served as lead arranger and administrative agent for a $61 million syndicated loan and $12 million syndicated credit facility to affiliates of CommuniCare Health Services, a Cincinnati-based provider of post-acute care. CommuniCare will use the financing to purchase nine skilled nursing facilities in Ohio and Maryland from a publicly traded REIT.

June 29, 2016

Loans Maryland Multifamily Southeast

M&T Realty Capital Provides $26M Acquisition Loan for Apartment Community in Maryland

by John Nelson June 29, 2016

LAUREL, MD. — M&T Realty Capital Corp. has provided a $26 million acquisition loan for Horizon Square Apartments, a 254-unit apartment community located in Laurel, roughly 20 miles from both Baltimore and Washington, D.C. About 53 percent of Horizon Square’s units comprise one-bedroom layouts, with the remaining units comprising two- and three-bedroom residences. Amenities include a fitness center, clubroom, swimming pool and a playground. Tim Weldon of M&T Realty Capital’s Washington, D.C., office originated the Freddie Mac loan on behalf of the borrower, ROSS Cos., which plans to upgrade the property’s lighting fixtures, entryways and unit interiors, as well as install new windows.

June 29, 2016

Hospitality Maryland Restaurant Retail Southeast Top Stories

Cordish Companies Unveils Plans for $200M Expansion at Maryland Live! Casino

by Katie Sloan June 28, 2016

HANOVER, MD. — The Cordish Companies has unveiled plans for a $200 million expansion at Maryland Live! Casino in Hanover. The expansion will include a 17-story, flagship Live! Hotel tower; an event center; meeting spaces; new dining options; a Live! Retail store; approximately 1,000 additional parking spaces; and a day spa and fitness center. The hotel will offer 310 luxury guest rooms, 52 of which will be suites. The Grand Event Center will feature a 1,500-seat concert venue with a built-in performance stage. The development’s event center will also offer flexible pre-function and meeting space, an executive boardroom and banquet seating capable of hosting up to 800 guests. New dining options will include a 24-hour café, a gelato bar and a signature lobby bar with more than 50 seats. Contractors, project architects and designers tapped by The Cordish Cos. for the project include Klai Juba Wald Architects, McLaren Engineering Group, Laurence Lee Associates, Cleo Design Corp., Selbert Perkins, Corsi & Associates, Lynne Curry Spa Consulting, Giovanetti Schulman Assoc. and EDSA. Tutor Perini Corp. will be the project’s general contractor. The project is expected to create approximately 400 new jobs and 550 construction jobs for the region, according to the developers. …

June 28, 2016

Newer Posts

Older Posts