Mid-Atlantic Properties Inc Acquires Towson Office Tower For $13.55M
210 West Pennsylvania Avenue Baltimore, Maryland 21204, Usa
$13,550,000
$62/SF
Building Size
217,325 SF
Asset Type
Office
Closing
Aug 4, 2023
About this deal
AI
A prominent office tower located at 210 W Pennsylvania Ave in Baltimore, MD has been sold for $13.55 million. The buyer of the property is Mid-Atlantic Properties Inc, a Towson-based investment group. The office tower, known as Towson's Court Towers, spans a total area of 217,325 square feet.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $13,550,000
- Address: 210 W Pennsylvania Ave, Baltimore, MD
- Market: Baltimore, MD
- Buyer: Mid-Atlantic Properties Inc
- Square footage: 217,325
This sale represents a significant transaction in the commercial real estate market. Towson's Court Towers, previously associated with Baltimore Orioles owner Peter Angelos, was acquired by Mid-Atlantic Properties Inc. The investment group, based in Towson, sees potential in this office tower and aims to capitalize on its strategic location. The sale price of $13.55 million reflects the value placed on this prime property in Baltimore, MD.
Players
Somers Point Office Market Snapshot
Boundary boundary · Office · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.17%
Cash-on-Cash
-0.33%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93