News
WEISS’ WISDOM
March 1, 2011
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| Investment sales and debt financing guru Steve Weiss is joiningColliers? Columbia office. He's closed nearly 90 transactions over the past seven years, and he tells us multifamily properties are by far the most desirable to investors in the area (he's seen cap rates in the best-located buildings drop by up to 100 bps over the past year). Steve says he expects activity around Ft. Meade and Aberdeen Proving Ground to strengthen the Baltimore-area market, especially apartment and industrial assets. He's also a crack angler, telling us he's going to land a 50? rockfish this summer (of course, fishermen never exaggerate). |
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| Speaking of investment sales, yesterday Government Properties Income Trust closed on its $28M purchase of the Social Security Administration?s two-building, 183k SF complex in Woodlawn off Route 122. GOV?s Tim Bonang tells us SSA's lease on the Woodlawn property is shorter than the firm is usually comfortable with (the agency expressed a firm intention to stay during the due diligence process). He says while there are no other deals it's currently pursuing in Maryland, the firm will compete on any federally leased property that comes to market. GOV also bought 3300 75th Ave in Landover for $43.7M in January 2010. |
