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Tuesday, 09 April 2002

Mid-Atlantic Digest (4/10/02): Baltimore Mayor Announces $16Mln Plan for Revitalizing Belvedere Squa

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April 10, 2002

Mayor announces $16Mln plan for revitalizing Belvedere Square
The Baltimore Sun

BALTIMORE – Standing before a crush of neighbors and city officials, Baltimore Mayor Martin O'Malley formally announced yesterday that the city and state will contribute $4 million to the $16 million package that four Baltimore development firms estimate is needed to bring back some of the "old magic" to Belvedere Square. The decline of the once-thriving shopping center in North Baltimore will be reversed, the mayor said, by a partnership comprising Struever Bros. Eccles & Rouse, Manekin Corp., Hawkins Development Group and a new entrant, Williams Jackson Ewing. The development team plans to purchase the 100,000-square- foot complex, which opened in 1986, from James J. Ward III for $7 million to $8 million, people close to the deal said.

Developers relieved tax credit to stay intact
The Baltimore Sun

ANNAPOLIS, Md. – Baltimore development officials expressed relief yesterday that the General Assembly did not gut a popular but increasingly expensive historic tax credit program. Although scaling back the state program extensively seemed possible earlier, what came out of Annapolis on Monday, when the 90-day session ended, was far less drastic, officials said. That's good news for Baltimore, with its many historic buildings. The legislation makes the five-year-old historic tax credit less generous. Developers can cut their tax bill by 20 percent, rather than by 25 percent, of the cost to renovate older buildings. And the credit is limited to $3 million per project, where there had been no limit before. The goal was to rein in a once-obscure program that could cost the state $57 million this year.

Sykesville, Md., project design OK near
The Baltimore Sun

SYKESVILLE, Md. – Sykesville is expected to adopt soon architectural guidelines for renovating a group of 13 100-year-old buildings known as the Warfield Complex into a business and academic center. The guidelines, based on federal standards for preserving historic buildings, are a vital initial step in the project, which is expected to take several years and cost about $20 million. Warfield could create hundreds of professional jobs and be an economic development boon to Carroll County. Prepared by David H. Gleason Associates Inc., Baltimore-based architects, the design concepts would help preserve the historic character of the buildings while directing development, including a hotel and a park on the 96-acre campus along Route 32.

Penn Avenue buildings considered for hotel
The Pittsburgh Tribune-Review

PITTSBURGH – Oxford Development Co. hopes to make a decision within 60 to 90 days about whether it is feasible to renovate two buildings on Penn Avenue into a hotel, a move that would help the city's need for more lodging. Oxford has options on buildings at 945 and 949 Penn Ave. and is in negotiations on a third, adjacent building.

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


“The Weekly”

“The Weekly” is Commercial Real Estate Direct’s PDF newsletter, sent to subscribers every Friday morning. With over 100 news stories published on Commercial Real Estate Direct each week, “The Weekly” features the top stories in commercial real estate that industry participants need to know first. “The Weekly” also contains:

  • Breaking mortgage, CMBS, and REIT news

  • Quarterly league tables with rankings of B-piece buyers, book runners, and lenders

  • Industry moves and changes in “The Insider“

Additional Info

  • Syndicate to Realpoint: No
  • Subject: Mid-Atlantic Regional Digest (MADIG)
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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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