FD Stonewater Closes on Sale of First Private Capital Program Investment
HANOVER, Md. (PRWEB) May 03, 2018 -- FD Stonewater announced today that it has completed the disposition of a single-tenant property located in Hanover, Maryland. The transaction exemplifies FD Stonewater’s strategy of acquiring and repositioning single-tenant facilities nationwide with near-term lease expirations. The company has acquired in excess of $200 million of single-tenant assets encompassing more than 2.8 million square feet.
The 52,063-square foot building located in the BWI submarket of Anne Arundel County is 100% leased to the charter school Chesapeake Science Point Academy (CSP), a highly acclaimed charter school. At the time of acquisition, CSP had approximately five years remaining on the lease term. The business objective was to renew CSP by offering building improvements that would lower the tenant’s ongoing operating expenses in exchange for a longer-term lease extension. FD Stonewater’s asset management team identified multiple opportunities to help CSP lower its costs, including a full lighting retrofit and HVAC upgrades. As a result, a lease extension was negotiated.
“The whole situation was a win-win for everyone”, commented Owen Burke, FD Stonewater’s Head of Asset Management. “CSP received meaningful cost savings and an improved facility that better meets their ongoing needs, while we were able to complete the business plan ahead of schedule.”
Andrew Schwartzman, a Principal at FD Stonewater, added, “The disposition represents a significant milestone for the company: fully executing one of the firm’s first deals to have been capitalized with equity from its high-net worth investor program. We are thankful for our investors’ continued support as this program has grown to several hundred million dollars of acquisitions, and the investor base has expanded to include both domestic and foreign capital since launching just three years ago.”
About FD Stonewater
FD Stonewater is a boutique real estate investment, development, brokerage and advisory firm headquartered in Washington, DC. Collectively, the firm’s leadership has a track record of more than $10 billion in investments, development, and acquisitions, with over 45 million square feet of lease transactions and 18 build-to-suit projects completed.
Kathryn Nuss, FD Stonewater, LLC, +1 7035377628, [email protected]
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