Baltimore
Bozzuto Sells Baltimore’s Union Wharf Apartment Asset
The Bozzuto Group has sold its Union Wharf apartment complex in Fells Point. The property was picked up less than six months after it was put on the market.
Insurance, Inc. to Move HQ to BECO Tower II
BECO Management, Inc. has recently announced the signing of another tenant at its BECO Tower II office building in the Owings Mills Town Center section of northwest Baltimore County. Insurance, Inc., the new tenant, will occupy 10,921 square feet of space. With this new signing, BECO Management said that it has leased over 25,000 square feet of space at BECO Tower II, in the first months of 2015.
Executive Insight: Brian Kelley, Investcorp
Investcorp, a Bahrain-listed alternative investment fund, has recently expanded its U.S. residential portfolio with the acquisition of four properties in the metropolitan areas of Washington, D.C., Orlando, San Diego and Baltimore. The purchase price was approximately $300 million.
Great Expectations for Urban Infill Locations
Castle Lanterra Properties is attracted to certain areas in the Greater Baltimore region, which the company believes are poised for growth over the coming years.
Ruppert Properties Buys Three-Building Office Portfolio in Columbia’s Rivers Technology Park
Three more Greater Baltimore office properties have recently changed hands. The three buildings are all part of the Rivers Technology Park, in Columbia.
BARCO Breaks Ground on The Motor House
The Baltimore Arts Realty Corporation broke ground last Thursday on The Motor House, one of its most anticipated projects. The $6.5 million investment will completely transform the former Load of Fun building and will bring much needed performance and working space to Baltimore’s Station North Arts & Entertainment District, the first state-designated arts district in the nation.
Junction Properties Hires Chesapeake Real Estate Group to Lease a Four-Property Portfolio
Junction Properties, LLC has recently selected Baltimore-based Chesapeake Real Estate Group, LLC to act as the exclusive broker for the leasing of a portfolio of properties in the Baltimore-Washington Corridor. The portfolio consists of four buildings, with over 250,000 square feet of space. It offers a mix of bulk distribution, flex and office-warehouse product.
Two Baltimore Apartment Projects Start Leasing
Two Baltimore apartment projects have recently started leasing. The Equitable, in the heart of the city’s downtown, and 2 East Wells, in the South Baltimore neighborhood of Federal Hill, are both nearing completion. Together, they will bring almost 350 new units to the area.
Luxury Hotel Breaks Ground in Fells Point
Last week, Sagamore Development Company and the City of Baltimore celebrated the groundbreaking for a new luxury hotel on the historic Fells Point waterfront. Mayor Stephanie Rawlings-Blake and Kevin Plank, founder of Sagamore and CEO of Under Armour, attended the ceremony together with many other elected officials.
JV Buys Fairways at Towson Apartments for More than $100M
Tryko Partners, LLC has joined forces with the Investcorp Group for the acquisition of a large apartment community in the Baltimore metro area. The two companies have paid more than $100 million to buy the Fairways at Towson Apartments. They now plan to start work on a multi-million-dollar renovation project for the property.