News
HOW TO SUCCEED IN NON-PROFITS WITHOUT BEING A LANDLORD
January 12, 2012
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| Matt Melnick (right, snapped with colleague Steve Cornblatt) tells us Baltimore Behavioral Health's sale-leaseback in the Southwest's Washington Village comes seven years after the non-profit bought the 74k SF campus. It didn't want to be in the landlord business anymore and is leasing back the 36k SF, three-story 1101 W Pratt St. Renovations are going on right now to spruce up 38k SF in the two-story 1001 W Pratt St for the University of Maryland. |
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| The deal helps BBH earn some capital, reduce operating costs, and stay in Baltimore City to serve its patients. It also seems to be a grant couched in a real estate deal. The buyer, The Abell Foundation, was founded to provide grants to schools, hospitals, and human service organizations, aiming to break the urban poverty cycle. |
