Maryland

Transwestern Brokers Sale of Two Industrial Assets in Maryland Totaling $23.9M

by John Nelson March 26, 2015

FREDERICK, MD. — Transwestern has brokered the sale of two industrial properties in Frederick totaling $23.9 million on behalf of the seller, Ruppert Properties. Cabot Properties purchased Stanford Trading Center, a four-building, 175,380-square-foot industrial campus, for $15.9 million. Flying Dog Brewery purchased The Brewery Building, a 46,200-square-foot asset located at 4607 Wedgewood Blvd., for $8 million. Flying Dog is the sole occupant of The Brewery Building. Transwestern’s Mark Glagola and Robert Filley, who is now with Marcus & Millichap, brokered the transaction. Bill Meissner of Ruppert Properties worked with the Transwestern team to facilitate the transaction.

March 26, 2015

Maryland Office Southeast

COPT Acquires 24-Story Office Building in Baltimore for $63.5M

by John Nelson March 23, 2015

BALTIMORE — Corporate Office Properties Trust (COPT) has acquired a 24-story office building located at 250 W. Pratt St. in Baltimore’s Pratt Street Corridor for $63.5 million. The 368,200-square-foot property was approximately 95 percent leased at the time of sale to tenants such as Pandora, University of Maryland Faculty, University of Maryland Medical Systems and GSA-U.S. Probation and Parole Office. The office building has direct access to I-95 and sits caddy-corner to Oriole Park at Camden Yards. As of Dec. 31, 2014, COPT’s portfolio consisted of 173 office properties totaling 16.8 million square feet.

March 23, 2015

Maryland Multifamily Southeast

CBRE Brokers $71.8M Sale of Apartment Community in Metro D.C.

by John Nelson March 9, 2015

BOWIE, MD. — CBRE has brokered the sale of Meridian at Bowie, a 384-unit multifamily community in Bowie, a Maryland suburb of Washington, D.C. Friedkin Realty Group purchased the apartment community from an undisclosed seller for $71.8 million. Bill Roohan, Mike Muldowney, Andy Boyer, Brian Margerum, Michael Rudolph, Jonathan Greenberg and Martha Hastings of CBRE’s multifamily investment properties team in Washington, D.C., represented the seller in the transaction.

March 9, 2015

999 Corporate Boulevard Linthicum Maryland

Maryland Office Southeast

DTZ Brokers $6.5M Sale of Class A Office Building in Baltimore-Washington Corridor

by John Nelson March 6, 2015

LINTHICUM, MD. — DTZ has brokered the $6.5 million sale of a Class A office building located at 999 Corporate Blvd. within the Airport Square Business Park in Linthicum, a city in the Baltimore-Washington Corridor. Heritage Properties purchased the 67,384-square-foot property from LNR Partners LLC. Jonathan Carpenter, Nicole Keelty and Graham Savage of DTZ’s capital markets team in Baltimore represented LNR in the transaction.

March 6, 2015

Loans Maryland Mixed-Use Southeast

Cronheim Mortgage Secures $16.2M Loan for Mixed-Use Property in Maryland

by John Nelson March 5, 2015

ELKTON, MD. — Cronheim Mortgage has secured a $16.2 million loan for a mixed-use property located on East Pulaski Highway in Elkton, a town near the Maryland-Delaware border. The property includes a 78,800-square-foot medical office building converted from a former Walmart, a 5,000-square-foot build-to-suit urgent care center and an Olive Garden pad site. David Turley and Janet Proscia of Cronheim Mortgage structured the 10-year loan with a 30-year amortization schedule on behalf of the borrower. The funding retired existing debt on the property and enabled the owner to recover equity.

March 5, 2015

Kensington Park Maryland Seniors Housing

Loans Maryland Seniors Housing Southeast

Prudential Mortgage Capital Provides $41M to Refinance Seniors Housing Facility in Maryland

by John Nelson February 27, 2015

KENSINGTON, MD. — Prudential Mortgage Capital Co., the commercial mortgage lending business of Prudential Financial Inc. (NYSE: PRU), has provided a $41 million loan to Fountain Square Properties to refinance Kensington Park, a Class A independent, assisted and memory care community located in Kensington. Tom Goodsite and Trace Wilson of Prudential Mortgage Capital were the leads on the transaction. The loan was originated through Freddie Mac’s Senior Housing program. The property consists of 61 independent living units, 52 assisted living units and 51 memory care units and is situated on more than eight acres, just north of the I- 495 Beltway in Montgomery County. Kensington Park is managed by an affiliate of its owner, Fountain Square Properties.

February 27, 2015

Industrial Maryland Southeast

Terreno Realty Corp. Buys 115,000 SF Distribution Center in Maryland for $10.4M

by John Nelson February 24, 2015

ANNAPOLIS JUNCTION, MD. — Terreno Realty Corp. has purchased a 115,000-square-foot distribution center in Annapolis Junction for approximately $10.4 million. The industrial property is located at 9070 Junction Drive approximately three miles from Fort Meade in the central Baltimore/Washington corridor. The property consists of 25 dock-high loading bays and five grade-level loading positions. The building is currently 38 percent leased to two tenants.

February 24, 2015

Loans Maryland Mixed-Use Southeast

Phillips Realty Capital Arranges $51M Construction Loan for Mixed-Use Development

by John Nelson February 6, 2015

GAITHERSBURG, MD. — Phillips Realty Capital (PRC) has structured a $51 million construction/permanent loan for the next phase of the 125-acre Watkins Mill Town Center in Gaithersburg. The Majestic at Watkins Mill will be a five-story structure with 243 residential units, 10,500 square feet of retail space, landscaped terraces with fountains, a dog wash and theater room. The design team includes developer BP Realty Investments LLC — a joint venture between Kline & Associates and Henry Investments — and Donohoe Construction Co. Stephen Shaw, Jr. and Daniel Shiff of PRC arranged the loan through Cardinal Bank and Burke & Herbert Bank on behalf of BP Realty Investments.

February 6, 2015

Hospitality Maryland Southeast

HREC Brokers Sale of Wyndham Baltimore

by John Nelson February 6, 2015

BALTIMORE — HREC Investment Advisors has brokered the sale of the 104-room Wyndham Baltimore in Baltimore’s Mt. Vernon district. Kevin Hanley, Ketan Patel and Geoff Davis of HREC represented the seller, Mt. Vernon Square Inc., in the transaction. The property is situated adjacent to the Walters Art Museum, Peabody Institute of Music at The John Hopkins University and the Washington Monument.

February 6, 2015

Industrial Maryland Southeast

St. John Properties to Develop Three Spec Buildings at Baltimore Crossroads

by John Nelson February 3, 2015

BALTIMORE — St. John Properties Inc. has plans to initiate construction on three new speculative office buildings totaling approximately 90,000 square feet at Baltimore Crossroads, a master-planned, 1,200-acre mixed-use park in the White Marsh section of Baltimore County. Baltimore Crossroads is configured to support more than 5 million square feet of office, research & development/flex, warehouse, industrial, retail and hotel space. St. John Properties leased more than 100,000 square feet of office/flex space to eight Baltimore Crossroads tenants in the fourth quarter of 2014. The new tenants include Pro Transport, Social Solutions, All-Pro Team Sports, Sovereign, Evolution Physiotherapy, Performance Contracting, Skillforce, The Mallow Bar and 24-Hour Dependable Medical Supplies.

February 3, 2015

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