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Baltimore Portfolio Trades for $77M

WOODLAWN, MD-Atlantic Realty and Colony Realty Partners acquired the portfolio together.

By Erika Morphy | Updated on December 13, 2006

(For more retail coverage, click GlobeSt.com/RETAIL.)

WOODLAWN, MD—A portfolio of disparate assets including retail, office, and flex space has traded here for $77 million. Called Meadows Business Park, the 21 buildings are located off of Security Boulevard. Because of the portfolio’s unusual make-up, two buyers with dissimilar investment criteria, Virginia-based Atlantic Realty Co. and an affiliate of Boston-based Colony Realty Partners, came together to acquire it from Emmes Realty Services.

“That was one of the challenges we had – identifying a buyer that was willing to take on that product mix,” Chris Kubler of NAI KLNB’s Columbia, MD office tells GlobeSt.com. But because their investment goals were different “they were able to rationalize the higher purchase price because they each assigned higher value to parts of the portfolio that they liked best.”

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