{"id":1004067030,"date":"2013-02-10T20:14:06","date_gmt":"2013-02-11T04:14:06","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=101249"},"modified":"2020-05-19T05:43:29","modified_gmt":"2020-05-19T13:43:29","slug":"tower-point-at-the-highlands-sold-for-23-7m-to-greenfield-partners","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/tower-point-at-the-highlands-sold-for-23-7m-to-greenfield-partners\/","title":{"rendered":"Tower Point at the Highlands Sold for $23.7M to Greenfield Partners"},"content":{"rendered":"<p><em>By Adrian Maties, Associate Editor<\/em><\/p>\n<p style=\"text-align: justify\">Connecticut-based Greenfield Partners LLC has<a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2013\/02\/930touchedlawnsm78200923007.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-full wp-image-101251\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2013\/02\/930touchedlawnsm78200923007.jpg\" alt=\"\" width=\"215\" height=\"200\" \/><\/a> acquired Tower Point at the Highlands,  a corporate campus situated on 60 acres in Sparks, Maryland. The seller was Equus Capital Partners Ltd. The property sold for $23.7 million or $124 per square foot.<\/p>\n<p style=\"text-align: justify\">Tower Point is a 162,646-square-foot campus about 20 miles north of Baltimore. It includes two Class A office buildings located at 920 and 930 Ridgebrook Road. 920 Ridgebrook Road is the largest of the two buildings. It has three stories and 94,071 square feet of space. 930 Ridgebrook Road is a three-story building with 72,406 square feet of space. A third three-story, 81,000 square foot Class A office building, 934 Ridgebrook Road, is planned and will be situated adjacent to 920 Ridgebrook Road. It is fully approved for development and available for lease and build-to-suit and expansion opportunities.<\/p>\n<p style=\"text-align: justify\">The property is at 96% occupied. It is<a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2013\/02\/baltimchart.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-medium wp-image-101250\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2013\/02\/baltimchart.jpg\" alt=\"\" width=\"300\" height=\"263\" \/><\/a> home to the corporate headquarters of Fundamental Long Term Care Holdings LLC, FILA USA Inc. and MobilexUSA.<\/p>\n<p style=\"text-align: justify\">Christopher Abramson, Brian Kruger and Nicholas Signor of Cushman &amp; Wakefield\u2019s Capital Markets group represented Equus Capital Partners Ltd. Equus Capital Partners was known as BPG Properties Ltd. until February 4, when it announced its name change.<\/p>\n<p style=\"text-align: justify\">Cushman &amp; Wakefield also served as the exclusive advisor to Greenfield Partners in arranging a $17 million fixed-rate loan for the property. J.P. Morgan provided the five-year financing. Gideon Gil<strong>,<\/strong> Alexander Hernandez, and Sridhar Vankayala of Cushman &amp; Wakefield\u2019s Equity, Debt and Structured Finance team represented the sponsor.<\/p>\n<p style=\"text-align: justify\">\u201cThis is a great purchase at a discount to replacement cost, with solid tenancy and no turnover for the next six years,\u201d said Cristopher Abramson, a Cushman &amp; Wakefield executive director.<\/p>\n<h6 style=\"text-align: justify\">Photo credits: <a href=\"https:\/\/www.towerpointatthehighlands.com\" rel=\"nofollow\">www.towerpointatthehighlands.com<\/a><\/h6>\n<h6 style=\"text-align: justify\">Charts courtesy of <a href=\"https:\/\/www.cbre.us\" rel=\"nofollow\">CBRE<\/a>.<\/h6>\n","protected":false},"excerpt":{"rendered":"<p>Connecticut-based Greenfield Partners LLC has acquired Tower Point at the Highlands,  a corporate campus, situated on 60-acres in Sparks, Maryland. The seller was Equus Capital Partners Ltd. The property sold for $23.7 million or $124 per square foot..<\/p>\n<p>Tower Point is a 162,646-square-foot campus about 20 miles north of Baltimore. It includes two Class A office buildings located at 920 and 930 Ridgebrook Road. 920 Ridgebrook Road is the largest of the two buildings. It has three stories and 94,071 square feet of space. 930 Ridgebrook Road is a three-story building with 72,406 square feet of space. According to the campus&rsquo; website, a third three-story, 81,000 square foot Class A office building, 934 Ridgebrook Road, is a planned adjacent to 920 Ridgebrook Road. It is fully approved for development and available for lease and build-to-suit and expansion opportunities.<\/p>\n","protected":false},"author":925,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1579,21742],"tags":[39414,1815],"class_list":["post-1004067030","post","type-post","status-publish","format-standard","hentry","category-baltimore","category-latest","tag-baltimore","tag-national"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Tower Point at the Highlands Sold for $23.7M to Greenfield Partners - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/tower-point-at-the-highlands-sold-for-23-7m-to-greenfield-partners\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Tower Point at the Highlands Sold for $23.7M to Greenfield Partners\" \/>\n<meta property=\"og:description\" content=\"Connecticut-based Greenfield Partners LLC has acquired Tower Point at the Highlands, a corporate campus, situated on 60-acres in Sparks, Maryland. The seller was Equus Capital Partners Ltd. The property sold for $23.7 million or $124 per square foot..  Tower Point is a 162,646-square-foot campus about 20 miles north of Baltimore. It includes two Class A office buildings located at 920 and 930 Ridgebrook Road. 920 Ridgebrook Road is the largest of the two buildings. It has three stories and 94,071 square feet of space. 930 Ridgebrook Road is a three-story building with 72,406 square feet of space. According to the campus&rsquo; website, a third three-story, 81,000 square foot Class A office building, 934 Ridgebrook Road, is a planned adjacent to 920 Ridgebrook Road. It is fully approved for development and available for lease and build-to-suit and expansion opportunities.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/tower-point-at-the-highlands-sold-for-23-7m-to-greenfield-partners\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2013-02-11T04:14:06+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-05-19T13:43:29+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2013\/02\/930touchedlawnsm78200923007.jpg\" \/>\n<meta name=\"author\" content=\"Adrian Maties\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/tower-point-at-the-highlands-sold-for-23-7m-to-greenfield-partners\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/tower-point-at-the-highlands-sold-for-23-7m-to-greenfield-partners\\\/\"},\"author\":{\"name\":\"Adrian Maties\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/6dfc8d1c9006c9fd1c89d69133130109\"},\"headline\":\"Tower Point at the Highlands Sold for $23.7M to Greenfield Partners\",\"datePublished\":\"2013-02-11T04:14:06+00:00\",\"dateModified\":\"2020-05-19T13:43:29+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/tower-point-at-the-highlands-sold-for-23-7m-to-greenfield-partners\\\/\"},\"wordCount\":290,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/tower-point-at-the-highlands-sold-for-23-7m-to-greenfield-partners\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/synd.yardi.com\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2013\\\/02\\\/930touchedlawnsm78200923007.jpg\",\"keywords\":[\"Baltimore\",\"National\"],\"articleSection\":[\"Baltimore\",\"News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/tower-point-at-the-highlands-sold-for-23-7m-to-greenfield-partners\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/tower-point-at-the-highlands-sold-for-23-7m-to-greenfield-partners\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/tower-point-at-the-highlands-sold-for-23-7m-to-greenfield-partners\\\/\",\"name\":\"Tower Point at the Highlands Sold for $23.7M to Greenfield Partners - 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