WASHINGTON, DC–Two Washington DC area commercial real estate companies received an infusion of capital via separate deals. In one, Carr Properties completed a $300 million convertible debt investment with Israeli insurer Clal. In the other, Almanac Realty committed up to $400 million to Merritt Properties.

Under the terms of the Carr Properties transaction, Clal's $300 million investment will convert into equity by August 2018. The transaction closed on December 20, 2017, with funding taking place in early 2018. Stroock represented Carr in the deal. Other investors in Carr are Alony Hetz Properties and Investments and institutional investors advised by J.P. Morgan Asset Management.

In the second, separate transaction for the area, Merritt Properties announced it has entered into an agreement with an investment fund managed by Almanac Realty Investors, under which the fund has committed up to $400 million. The investment should allow Merritt Properties to grow its portfolio by 20% to 30% through the acquisition, development and redevelopment of primarily industrial properties in the Baltimore-Washington corridor and other target markets.