News
EXPANSION PLANS
August 19, 2011
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| Foulger-Pratt Rockledge Medical Properties' Michael Abrams tells us his firm recently purchased 1576 Merritt Blvd in Dundalk (anchored by MedStar physicians). That complements its other Baltimore property, 2850 N Ridge Road in Ellicott City, a deal in which Chuck repped the seller. Mike says his firm is finalizing a recap of its eight-property portfolio with an institutional investor. That'll give Foulger-Pratt Rockledge $100M of equity for core and value-add acquisitions and development from Baltimore down to Richmond. Aging baby boomers, the new healthcare legislation, and an urgent need for cost-effective healthcare are forcing hospitals to rethink their locations for delivering services, he says. |
