BALTIMORE-Federal Capital Partners is still married to theWashington, DC area as it seeks out investment acquisitions, but itis also looking closer at second tier markets in the Mid-Atlantic.The company currently has an active pipeline in the Raleigh andPhiladelphia markets and is eager to make another trade inBaltimore, partner Alex Marshall tells GlobeSt.com.
The firm just closed on a $13.75 million acquisition of amultifamily here, called the Munsey. It is an 18-story, 146-unitbuilding with 4,000-square feet of ground floor retail.
Located a few blocks north of Baltimore’s inner harbor, it wasconstructed in 1911 by newspaper icon Frank Munsey as an officebuilding--the tallest in the city at that time. It was converted toapartments in 2003.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
