BALTIMORE–Grander Capital Partners, a Boston-based commercial real estate investment management services company, and its equity partner, Boston Andes Capital, acquired 120 E. Baltimore St., a 25-story office tower in Downtown Baltimore. The property, which has a 75% occupancy rate, traded for $32.8 million.
It is telling that one of the players in the deal was a foreign investor (Boston Andes has offices in Boston, Bogotá, and Buenos Aires) Jonathan Carpenter, executive director at Cushman & Wakefield, which brokered the sale, tells GlobeSt.com.
“For a lot of deals we have sold in the Baltimore Washington Corridor and Downtown Baltimore this year the equity has been international,” he says.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
