March 2023

O wners , D evelopers & M anagers

M id A tlantic Real Estate Journal — Section C

Nature-inspired lifestyle brand, to open retail, cafe & event space on campus in Summer 2023 Blue Rock Construction celebrates groundbreaking of Terrain at DelVal

OYLESTOWN, PA — Terrain, Urban Out- fitters, Inc.’s nature- inspired lifestyle brand, and Delaware Valley University (DelVal) have begun construc - tion on Terrain’s new location on campus. Blue Rock , a privately held construction firm with offices in New Jersey and Pennsylvania, is leading construction of the project. Blue Rock provides construc - tion services to clients in many markets, including Program Management, Construction Management, Design/Build and Consulting Services. D

the second half of 2023 and into 2024,” said Adam DeAngelo , executive director at URBN. “We are excited to be part of the Bucks County community.” Nicole Cataldi ’05, MBA ’08 is the human resource manager at Blue Rock and head cheer - leading coach at DelVal. She was ecstatic to learn that Del - Val would be home to Terrain’s Doylestown location, and that Blue Rock would be involved. “Knowing the dedication, thoughtfulness, and creativity that Blue Rock and URBN put into projects, I am confident that the result will be amazing, and I cannot wait to see it,” said Cataldi. “As an alumna, I am happy to see that through this partnership, this space will not only be beautiful and add to the community but also be a new hands-on learning opportunity for current and future students with a well- known corporation.” The partnership includes ex - periential learning opportunities

for DelVal students through the university’s award-winning Ex - perience360 program. Students can pursue paid internships and additional employment oppor - tunities at Terrain at Dela - ware Valley University and other URBN locations. These internships may include re - tail, food service, events, and other activities. DelVal alumni are thrilled about the new partnership and excited to book the Ter - rain event space for major life events. Monika Smallwood- Phillips ’19, a business ad - ministration alumna and her husband Shawn Phillips ’18, a business management alum - nus, are anxious for Terrain’s opening on campus to celebrate an important milestone and revisit their alma mater. “My husband and I met at DelVal,” said Smallwood-Phil - lips. “We definitely can’t wait for Terrain to open so we can have our five-year celebration here.” MAREJ existing footprint in the Druid Hill Park corridor of Northwest Baltimore. The Whittier Avenue Portfo - lio is a 14-building portfolio of single-family and small mul - tiunit properties strategically located across six different zip codes in Northwest Baltimore. The properties have been man - aged by a sole private capital operator for the past 10 years and rents are roughly 15% be - low market. All units in each of the 14 buildings have been renovated and can receive a premium on rent with the addi - tion of amenities such as larger closet space and in-unit washer and dryer systems. ‘’This deal consisted of 6 mul - tifamily properties and eight single-family homes across six different zip codes making the financing for this portfolio extremely complex. Our team navigated a tough financing terrain and closed this trans - action at 100% of the asking price,” said Inman. MAREJ

Terrain at DelVal groundbreaking included (left to right) DelVal President Dr. Benjamin Rusiloski, URBN Executive Director Adam DeAngelo, Blue Rock President Steve Kettelberger, and URBN Director of Development Brian Lindsay.

Crystal Windows expands paint finishing production HI-LIGHTS MARCH 2023

garden cafe, and private event space to the University and Doylestown community. “We are excited that con - struction is underway, going well and on time. We have received positive feedback from the community here and many events are already booked for

In May 2022, Urban Outfit - ters, Inc. and Delaware Valley University announced a unique partnership to transform the Market at DelVal building to Terrain at Delaware Valley University. This new location for Terrain will bring Terrain’s signature retail store, nursery,

Greysteel’s Mid-Atlantic Multifamily team arranges the sale of a 14-building portfolio in Baltimore, MD

BALTIMORE, MD — Greysteel , a national com - mercial real estate invest - ment servic - es firm, has a r r ang e d the sale of a 14-Building portfolio in Baltimore. Senior asso - ciate Aaron Inman , se - nior manag - ing director Kyle Tang- ney , and senior direc - tor Herb Schwat of Greysteel’s Mid-Atlantic Mul t i fam - ily team ne - gotiated the transaction on behalf of the seller as the listing brokers and were Aaron Inman Kyle Tangney Herb Schwat


Don’t Let Your Project Get “Bogged” Down

ALSO INSIDE Lucern Capital Partners...2C Jack Fersko, Greenbaum, Rowe, Smith & Davis LLP...3C LLM, Withum................4C ECS Mid-Atlantic . .......... 5C Jeffrey Clayman, CPA, JD, People on the Move... 12C 11C

Baltimore Portfolio

the sole brokers on the trans - actions. The buying party is a joint venture of a family office from the New York Area and a pri - vate equity real estate firm from

North Carolina. The seller, a private investor from Prince George’s County, Maryland, intends to reinvest their capital gain in other asset classes and the buyer intends to grow their

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