www.marejournal.com Real Estate Journal — DelMarVa — June 9 - 22, 2017 — 3A Sr. investment associate Schuldinger organizes sale of a Bank of America in Mount Airy, MD Greysteel arranges the sale of Marble Hall Gardens Located In Baltimore, MD for $31 million B altimore, MD — Greysteel , a national commercial real estate M id A tlantic
investment services firm, has arranged the sale of Marble Hall Gardens, a multifamily property located in Baltimore, MD for $31 million. This transaction was ar- ranged by Greysteel president & CEO, Ari Firoozabadi ; managing director, W. Kyle Tangney ; director, Rawles Wilcox ; senior investment associates, Ari Azarbarzin and Alicia Orkisz ; and in- vestment associate, Herbert Schwat ; who are all based in Greysteel’s Washington, D.C. and Baltimore offices. Marble Hall Gardens, built in 1947, is a 390-unit commu- nity located at 4300 Marble Hall Rd. in Baltimore. Posi- tioned just off Loch Raven Boulevard (MD 542), one of the city’s primary north-south thoroughfares, offering conve- nient access to major employ- ers throughout the Greater Baltimore Metro Area, such Newark, DE — Com- mercial real estate firm JLL and Delle Donne and As- sociates (DDA) , in partner- ship with the University of Delaware (UD), have an- nounced the development of a new trophy office tower at the University of Delaware’s Science, Technology and Advanced Research (STAR) Campus. The tower will en- compass 120,000 s/f of trophy office space. Approximately 80,000 s/f will be taken by the University of Delaware and allocated to its College of Health Sciences. The class A office property will be located at the gateway to the STAR Campus, foster- ing a community to learn, live, work and play. This goal to provide such community is prominent in major uni- versity settings throughout the nation. “We are excited to fur-
Marble Hall Gardens
Bank of America
UD’s STAR Campus master plan is comprised of a mix of commercial enterprises, re- search facilities, classrooms, housing, retail and green spaces. Intended to catalyze economic development, the University of Delaware’s STAR Campus is growing into a center of innovation that blends cutting-edge re- search, top-notch academics and thriving businesses in one location. STAR Campus provides educational and professional opportunities to students, research and collaborative inquiry to re- searchers and an educated and technologically savvy workforce to employers. STAR Campus is currently home to: • A performance computing company named by Forbes as one of America’s Most Prom- ising Companies • A manufacturer of clean and financing of a Bank of America. Greysteel senior investment associate Henry Schuld- inger represented the seller and procured the buyer while senior investment associate Brittany Wismer helped the buyer arrange financing. Bank of America opened at this site in 2006 and is in the middle of a 20-year triple net ground lease.Greysteel repre-
fuel-cell power sources whose energy servers provide power to Fortune 500 clients includ- ing Google, Wal-Mart, AT&T and Coca-Cola. • A 10,000 s/f wet lab busi- ness incubator for small re- search companies • A test zero-emissions vehicle laboratory supported by the U.S. Department of Energy, the State of Dela- ware, NRG Energy, Honda and BMW. • UD’s Health Sciences Complex of classrooms, re- search laboratories, and open- to-the-public care clinics. Op- erating under the name STAR Health, UD’s comprehensive clinics offer major health and prevention services including: primary care, physical ther- apy, speech therapy, mental health services, care coordi- nation, nutrition counseling, fitness counseling and health coaching. n sented the buyer in the process of assuming an existing loan with a 3.875% interest rate. “Our buyer was local and committed to the opportunity, even when financing obstacles surfaced,” said Schuldinger. “In the end, both seller and buyer got what they wanted, thanks to Greysteel’s ability to provide value across all parts of the transaction, from selling to financing.” n
as Medstar Good Samaritan Hospital and Johns Hopkins Hospital and Health Systems. Residents also benefit from close proximity to Downtown Baltimore’s latest mixed-use developments including the Marketplace at Fells Point, a $41 million project featuring new shops and restaurants, and Harbor Point, the city’s leading waterfront develop- ment.
"Marble Hall Gardens is a unique asset that blends conventional and student housing in one community,” said Azarbarzin. “The new owner stands to benefit from a healthy partnership with a growing university, while adding value through devel- opment, and limited capital improvements.” In Mount Airy, MD — Greysteel arranged the sale
JLL and Delle Donne and Associates Announce the Development of a new trophy office tower at The University of Delaware STAR Campus
UD STAR Campus office tower rendering
ther expand our relationship with Delle Donne and As- sociates,” said Jamie Vari , of JLL’s Delaware office. “STAR Campus is a major re-development of a Dela- ware legacy property that will bring another echelon of quality into the office market in New Castle County, Dela-
ware. With rail access, prox- imity to major road arteries, and built-in University of Delaware infrastructure, we believe that this campus will have similar success and characteristics to the Navy Yard in Philadelphia.” Formerly the site of 272- acre Chrysler assembly plant,
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