OWINGS MILLS, MD-Over the past two years, funds managed by Eaton Vance Management’s real estate investment group have acquired interests in over $850 million of institutional-grade property in the Baltimore-Washington area, with its latest deal pushing the Boston-based fund manager that much closer to the $1 billion mark.

Two investment funds the company manages have acquired the CareFirst BlueCross BlueShield headquarters here for $95 million. The two-building office complex, totaling some 390,000 sf, is located at 10455 and 10453 Mill Run Circle.

“The combination of attractive cash flow, favorable location, and long-term tenancy make this transaction an excellent fit with our overall investment strategy” says K.C. Swartzel, director of Acquisitions and Dispositions for Eaton Vance Management’s real estate investment group, in a prepared statement. “Despite the currently unsettled national real estate market, we remain interested in acquiring additional long-term net-leased office, retail, and industrial properties throughout the US.” Swartzel was not available for comment.

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