Middle Market Digest: The Mid-Atlantic

8205 Patuxent Range Rd

NEWS & NOTABLES

WASHINGTON, DC–Private equity investment volume rose to $187 billion in Q3 2017, a 26% increase from Q2, according to the American Investment Council’s 2017 Q3 Private Equity Trends report. In Q3 2017, dry powder for buyouts rose 6% to $608 billion, surpassing the Q2 2017 level of $572 billion. US private equity fundraising volume increased 7 percent, from $56 billion to $60 billion in Q3 2017. Meanwhile, exit volumes and fundraising grew to $81 billion and $60 billion, respectively.

DEAL TRACKER

COLUMBIA, MD–Corporate Office Properties Trust has completed the sale of two single-tenant assets for $73.5 million. The assets are located in central and southwestern Virginia, which are outside the REIT’s core markets. Both assets were 100% occupied at the time of sale. COPT will recycle the proceeds into build-to-suit data center shell development projects. COPT provided a financial guaranty to the buyer under which it would provide a limited indemnification to the buyer for losses it could incur related to a potential defined capital event occurring on one of the properties by June 2019. COPT does not expect to incur any losses under this financial guaranty.

BALTIMORE–JLL’s Capital Markets team arranged the sale of Winthrop Apartments in Towson, MD on behalf of Chesapeake Realty Partners. The Bozzuto Group worked with BrownLee Winthrop Management, LLC in the purchase of the 295-unit apartment community. Christine Espenshade and Robert Garrish led the JLL team on the transaction.