Stonebridge Bulks Up; More Acquisitions on the Way?
StonebridgeCarras is in acquisition mode; not only with existing properties, but also adding industry vets, too. (Ties, on the other hand, are on nobody's buy list.) Former MGP Real Estate guru Andy Eshelman (bottom left) has just joined as a principal and was snapped yesterday with fellow principals (clockwise) Kent Marquis, George Carras, and Doug Firstenberg. Stonebridge says it's also on the prowl to acquire new properties—to the tune of $1B worth of assets over the next five years. That's in addition to the $1B worth of projects the firm has developed over the past five years, including Constitution Square in NoMa and Lot 31 in Bethesda. Doug tells us the firm will stay local when looking for new assets, targeting core-plus and value-add buys throughout Greater Washington.
