BETHESDA, MD—Finmarc Management has bought andsold a number of assets over the last 26 months - $450 millionworth to be exact – and the company intends to continue along thattract as its pursues new opportunities, CEO MarcSolomon tells GlobeSt.com.
The company acquired land in Silver Spring,along Route 29, and it has plans to develop a grocery-anchoredmixed-use residential complex on it, he says. "We have purchasedabout $70 million worth of commercial real estate in that area. Wesee it as a growing market with the US Food and DrugAdministration expanding its facility there."
Finmac also has under contract some $40 million worth oftransactions, including a 300,000-square foot shopping center inMaryland and an 80,000-square foot small bay industrial facility inthe state. "We anticipate closing on those before the end of theyear as well as investing another $30 million of equity," Solomonsays.
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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.
