Middle Market Digest: The Mid-Atlantic

EU Services Buildings portfolio

NEWS & NOTABLES

BETHESDA, MD–Robert Kiernan is joining Global Medical REIT as CFO. He will succeed Donald McClure, who is pursuing other opportunities. Prior to this Kiernan was the SVP, Controller and Chief Accounting Officer of FBR & Co. and earlier, Arlington Asset Investment Corp.

DEAL TRACKER

FREDERICKSBURG, VA–Holliday Fenoglio Fowler has arranged $17.5 million in acquisition financing for a three-building distribution facility here totaling 487,897 square feet that is fully leased to CVS Caremark Corp. HFF, on behalf of the borrower, ARCTRUST, placed the 10-year, fixed-rate loan with Kansas City Life Insurance Co. The CVS distribution facility is one of the company’s 17 U.S. distribution centers, servicing 377 CVS stores across Maryland, North Carolina, Virginia and the District of Columbia.

NEWARK, DE–Greystone has provided a $26.65 million Fannie Mae DUS loan in combination with $5.35 million in preferred equity from New York Mortgage Trust, for the acquisition of Autumn Park, a 358-unit garden-style, multifamily property here. The transaction was originated by Keith Hires of Greystone’s Atlanta office with Ryan Ade and Neil Campbell of HFF as correspondents on the deal. The Fannie Mae DUS loan includes a 7 / 6 adjustable rate at 3 years of interest-only and a 30-year amortization.

ROCKVILLE, MD–Finmarc Management has acquired a four-building, 123,000-square foot portfolio of warehouse and manufacturing space for $8.6 million. Located on 627-649- 655 North Horners Lane and 202 Mason Drive and known as the EU Services Buildings, the portfolio is 100% leased by Envelopes Unlimited. Jay Clogg of Jay Clogg Realty Group represented the seller in this transaction and he has also been selected by Finmarc as the leasing broker.