CBRE Group Inc. has arranged financing for two multifamily properties in Baltimore totaling $84 million, including a $68.5 million loan for Spinnaker Bay and a $15.5 million loan for The Promenade at Harbor East in Baltimore.
Paul Ahmed and Mackenzie Lampman with CBRE Capital Markets arranged the 10-year fixed-rate loans on behalf of ownership, Baltimore-based H&S Properties Development Corporation, the developer of Baltimore’s Harbor East neighborhood.
Located in Harbor East, known for commercial and residential properties, retail, hotels and high-end restaurants, Spinnaker Bay is a 19-story, waterfront mixed-use property with 315 apartment units and 41,000 square feet of ground floor retail. The Promenade is a 12-story property with 113 apartment units.
CBRE, a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm. The company has more than 100,000 employees serving clients in more than 100 countries.
It serves a range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services.