Merritt Properties completes $400m investment deal with Almanac

Merritt Properties completes $400m investment deal with Almanac

Published at: 2018-01-09 15:38 | Author: CIJ USA
Merritt Properties has entered into a $400 million agreement with an investment fund managed by Almanac Realty Investors. The capital will allow Merritt Properties to grow its portfolio by 20 to 30 percent by buying, developing or redeveloping industrial properties in the Baltimore-Washington corridor. Merritt Properties owns and manages nearly 16 million square feet of office buildings in CBD and suburban locations, flex and industrial warehouse, manufacturing and distribution facilities, data centers, mixed-use developments and retail locations. Having been founded as Rotchschild Realty, Almanac has committed over $4.8 billion to 39 companies pursuing a wide array of real estate opportunities. “Our long-standing relationship with Almanac dates back to 1997 when we entered into an eight-year partnership with a $75 million commitment,” said Robb Merritt, President of Merritt Companies. “Twenty years later, we are continuing that initial partnership with the same individuals and same company—that’s a rarity.”

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