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Sunday, 24 March 2002

Mid-Atlantic Regional Digest (3/26/02): Baltimore Business Leaders want developers to fill in the ga

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March 25, 2002

Leaders want developers to fill in the gaps
The Baltimore Sun

BALTIMORE – From their high-rise windows overlooking downtown, some business leaders can see two dormant construction sites along Light Street – gaps in the heart of the city's traditional financial district. The sites, on opposite sides of Redwood Street, are stalled developments. Shortly, one could become a parking lot, one more in a city where plans for hundreds of millions of dollars' worth of office towers, hotels and shops fizzled into blocks of blacktop during two recessions since the late 1980s. A city official terms it "parking-lot syndrome." Some people are calling for tightening requirements that do little to stop developers from demolishing old, sometimes historic buildings in high-profile swaths of downtown before they are prepared to build anew.

Centre at Golden Ring in Baltimore filling up with tenants
The Baltimore Business Journal

BALTIMORE – The former Montgomery Ward building at Golden Ring – closed last year after the department store chain declared bankruptcy – is expected to become a mix of mini-storage, shops and restaurants. Retail Properties was recently named the exclusive leasing agent for the new Centre at Golden Ring in Baltimore County. The site – situated along the Baltimore Beltway between Pulaski Highway and Philadelphia Road – is being razed and redeveloped, with the exception of Wards. Retail Properties does not plan to market the former department store to big-box retailers because Wal-Mart, Sam's Club and Home Depot have already signed on to the project.

Plot thickens in Ritz on Rittenhouse saga
The Philadelphia Business Journal

PHILADELPHIA – Plans for a real estate project on Rittenhouse Square that would include a Ritz movie theater, restaurant and parking garage look as if they've cleared an important legal hurdle. But it may be some time before the first shovel goes into the ground. Michael Sklaroff, the lawyer representing the project's landlord, the Philadelphia Parking Authority, is confident that years of legal battles will soon end. Indeed, Judge Flora B. Wolf of the Court of Common Pleas has upheld a Zoning Board of Appeals ruling paving the way for the project and is expected to deliver her final opinion by the end of the month. Opposition, however, remains.

Prime City sells 10 apartment buildings in Philly
The Philadelphia Business Journal

PHILADELPHIA – In a deal that underscores growing investor interest in multifamily units, Prime City Properties, a private real estate company in the University City section of Philadelphia, sold a portfolio of 10 brownstone apartment buildings for $5.13 million to Roy Eng, a private investor from North Jersey. The properties total 69 apartments with a price per unit at just over $74,300, said Joshua Nadel, who along with Ruth Lief Miller, both of Mallin Panchelli Wentworth Realty, arranged the transaction for the seller and buyer. The properties are all west of Broad Street, along Pine, Spruce and neighboring streets.

Gateway Center hiring leasing agent as owner prepares complex for sale
The Pittsburgh Business Times

PITTSBURGH – The owner of Gateway Center is about to hire a leasing agent and begin soliciting offers to sell the four-building, 1.5 million-square-foot downtown complex. NAI Grant Street Associates, a downtown real estate brokerage, is expected to be awarded the leasing business by owner TrizecHahn Corp., which is also working with Holliday Fenoglio Fowler to find a buyer. The decision to seek outside brokerage expertise comes at a time when several major tenants have left Gateway Center or are planning to do so.

Commercial Real Estate Direct provides links to full stories where available.


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Additional Info

  • Syndicate to Realpoint: No
  • Subject: Mid-Atlantic Regional Digest (MADIG), Property Acquisitions (ACQ)
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Data Digest







Top Bookrunners Domestic, Private-Label CMBS - 2017
Investment Bank #Deals Vol$mln MktShr%
Goldman Sachs 17.59 11,819.34 13.68
JPMorgan Securities 14.52 10,968.11 12.70
Citigroup 12.04 10,012.71 11.59
Wells Fargo Securities 14.02 9,936.06 11.50
Deutsche Bank 12.55 9,879.74 11.44




cppichart FP



CMBS 2.0 Spreads


Top CMBS Loan Contributors - 2017
Lender #Loans Vol$mln MktShr%
Goldman Sachs 146.89 11,719.34 13.63
JPMorgan Chase Bank 117.68 10,114.14 11.76
Deutsche Bank 198.48 9,689.97 11.27
Morgan Stanley 166.18 8,539.78 9.93
Citigroup 199.05 8,088.24 9.41





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