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PAST DEALS |
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Former Properties that the Principals Acquired or Developed: |
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Oglethorpe House
Condominium Conversion, 143 Units, Hyattsville, MD. |
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Located only two
miles from the main campus of the University of
Maryland, Oglethorpe House was our first rental
property acquisition and was successfully converted
to condominium ownership over 20 years ago. We
originally retained many of the units for rental;
however, due to an extremely strong re-sale market,
we have sold the remaining units on an individual
basis. |
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Muirkirk Business Center
Industrial - Flex,
Beltsville, MD. |
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In August 2001
Muirkirk Business Center, a two property Class B
flex space complex comprising 113,668 SF was
purchased from a lender that had acquired the
property. At the time of acquisition the property
was approximately 70% occupied. At the sale, the
property was 97% occupied. BAF was an investment
partner in this property. |
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American Association of Blood Banks,
Headquarters
Building
Office Building, Bethesda,
MD. |
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The property is an
attractive two-story office building containing
28,623 gross SF. The building has an excellent
location in Downtown Bethesda and is rented for the
next 12-years with a NNN master lease. The property
is subject to a ground lease, which provides for
maximum tax benefits. We had a long-term
investment horizon for this property, and forecasted
investment returns to achieve a high teens IRR for
this stable exceptionally located building, with
very low risk. However, we were approached by a
1031 buyer and sold the property, doubling our
equity in 2 years. BAF was an investment partner in
this property. |
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Knightsbridge Apartments 59
Units, Baltimore, MD. |
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Located in the Upper Park Heights area of Baltimore this
property is representative of the type of rental property we
seek. We recently decided to sell the property to take
advantage of an above market unsolicited offer we received.
The property had suffered years of neglect from the previous
owners. When purchased by us, the property was in desperate
need of renovation and professional management. We
immediately changed management and implemented a major
renovation program replacing major structural components as
well as updating all of the kitchens and baths. |
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Residential Projects |
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Property |
Number of Units |
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Oglethorpe House Condominium Conversion, Hyattsville, MD. |
143 |
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Ager
Terrace Apartments
Adelphi, Maryland |
195 |
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Bryon Manor
Wheaton, Maryland |
61 |
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Hopkins
Apartments
Wheaton, MD |
150 |
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Mount
Vernon Apartments
Farifax, Virginia |
184 |
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Parker
House
Hyattsville, Maryland |
296 |
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Sligo House
Silver Spring, Maryland |
64 |
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Orchard
Hill Apartments
Frederick, Maryland |
182 |
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Providence Court
Frederick, Maryland |
51 |
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Tillman Place
Frederick, Maryland |
64 |
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Mistletoe
Gardens
Apartments
Laurel, Maryland |
120 |
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Ancient Oak
Apartments
Arlington, Virginia |
96 |
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Bryant
Woods
New
Carrollton,
Maryland |
184 |
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Bucknell
Apartments
Wheaton, Maryland |
40 |
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Kim
Apartments
New
Carrollton,
Maryland |
89 |
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Willowbrook
Apartments
Langley Park,
Maryland |
590 |
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Burkleigh
Apartments
Baltimore, Maryland |
315 |
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Commercial and Retail
Projects |
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Property |
Square Feet |
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American Association of Blood Banks, Headquarters Building
Office Building, Bethesda, MD. |
29,000 |
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St. Charles Industrial Center Industrial – Flex, St.
Charles, MD. |
130,000 |
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Muirkirk Business Center Industrial - Flex, Beltsville, MD. |
113,000 |
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Hartwick
Office
Building
College Park, Maryland |
50,000 |
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Louisa
Shopping Center
Louisa, Virginia |
60,000 |
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Riggs
Building
Adelphi, Maryland |
64,000 |
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Riggs
Plaza
Shopping Center
Adelphi, Maryland |
75,000 |
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LaPlata
Shopping Center
LaPlata, Maryland |
60,000 |
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Lee
Lexington
Shopping Center
Arlington, Virginia |
20,000 |
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Rosemont
Building
Rockville, Maryland |
30,000 |
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Jamesway
Plaza
Timberville, Virginia |
87,000 |
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Heritage
Plaza
Kinston, North Carolina |
50,000 |
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New Construction Projects |
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Name of Development |
Number of Units |
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Kimberly
Woods Townhouses
Silver Spring, Maryland |
24 |
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