"There is an incredible amount of activity going on in andaround Baltimore," Christopher Buccini, one of the foundingpartners of the Wilmington, DE-based BPG Group, tells GlobeSt.com."As a result we decided we needed someone on the ground."

The firm will be hiring 10 people initially to staff the office,he says, from senior management to property management andfacilities. The Baltimore office will continue to focus on theasset group in which BPG is most active in Maryland now--hoteldevelopment--but also ratchet up investment in office andresidential. The company divvies up its portfolio roughly as 40%hotel, 40% office and 20% residential and retail.

BPG will be housing its new staff in its most recent acquisitionin the city: One North Charles St. Located Downtown, the 25-story,290,619-sf building is a historic landmark that has had a historyof long distance owners. BPG acquired the building from theMaryland-based companies Corinthian Realty Partners of Bethesda andNellis Corp. of Rockville, for an undisclosed sum.

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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.