Baltimore

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.

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.

Two Greater Baltimore office properties have changed hands at the start of the month. The building at 999 Corporate Boulevard, in Linthicum, and the one at 1614 Churchville Road, in Bel Air, sold for a total of almost $9.5 million.

A large, Class B multifamily property in Greater Baltimore changed hands last month. Columbia Realty Venture, LLC, an affiliate of Bernstein Management Corporation, sold the Watergate Village apartment community to Elie Rieder, CEO of Castle Lanterra Properties, for $105 million.

Radisson is expanding in the Baltimore area. The brand has recently opened a new hotel in Timonium.

Work is now underway on Baltimore’s newest and largest waterfront development project. On the morning of Wednesday, February 25, Beatty Development celebrated the official groundbreaking of Harbor Point, together with Mayor Stephanie Rawlings-Blake and other local officials.

Baltimore’s Church Square Shopping Center is now under new ownership. The property’s former owner, a joint venture between The Hampshire Companies, of Morristown, N.J., and Baltimore-based MCB Real Estate, sold it to Kodiak Properties, LLC and Burley Church, LLC, for an undisclosed price. KLNB, LLC represented both the buyer and the seller in the transaction.

Terreno Realty Corporation has acquired another industrial property in the Baltimore/Washington Corridor. The San Francisco-based company paid approximately $10.4 million to buy the property at 9070 Junction Drive, in Annapolis Junction. The deal closed on February 19.

A Greater Baltimore office property has recently changed hands. The Dorsey Business Center, in Elkridge, was acquired by a joint venture of CSG Partners and Blue Vista Capital, for $9.35 million.

Greenberg Gibbons plans to renovate The Shops at Kenilworth, a landmark shopping destination in Towson. The cost of the project is $20 million.