Middle Market Digest: The Mid-Atlantic

Washington Hill

NEWS & NOTABLES

BETHESDA, MD–Federal Capital Partners has hired new team members and made a staff promotion. Hays Meyer has joined FCP as an analyst on its Asset Management team. Ross Magette has joined as a development associate and his focus will be on executing business plans for mixed-use investments on behalf of the firm’s investors and joint venture partners. Prior to joining FCP, he worked for Donohoe Construction Co. Drew Schwartz was promoted to senior analyst for its Residential and Structured Investments team. Schwartz has been responsible for underwriting and closing FCP’s residential and structured investments throughout Florida and the Washington, DC area since joining the firm in June 2015.

BETHESDA, MD–Eastern Union Funding has promoted David Merkin to the position of Vice President. Merkin represents commercial real estate owners with properties in the mid-Atlantic region, who are looking for acquisition or construction financing, or to refinance. He was previously a senior loan consultant and has been with Eastern Union for six years.

DEAL TRACKER

BALTIMORE–A joint venture between Lowe Enterprises Investors and a foreign investment client has acquired Jefferson Square at Washington Hill, a 304-unit urban infill apartment development with 20,000-square feet of street retail in East Baltimore. It is located at 101 N. Wolfe St., across the street from the Johns Hopkins University Hospital and medical campus. Jefferson Apartment Group will continue as manager of the apartments.

BALTIMORE–Eastern Union Funding has arranged $3.8 million in financing for Real Estate Investment Services to refinance the bridge loan it used to acquire Boundary Square Apartments and fund additional upgrades. The 67-unit apartment complex is located at 301-327 E. North Ave.