3 Office Parks Acquired In Columbia

From Adler Real Estate Partners: Adler Real Estate Partners (Adler Partners), a vertically integrated real estate investment firm, has acquired a portfolio of three light industrial and office parks in Columbia, Maryland. The 225,000 SF portfolio is Adler Partners’ second acquisition in Columbia, having purchased a nine-building portfolio in March of 2017. Adler Partners now owns over 500,000 square feet in the Columbia market and the company’s property management affiliate, Adler Real Estate Services, has a strong local team already in place to operate the properties. The properties were purchased through investment funds managed by Adler Partners and the firm retains upwards of $70 million of discretionary capital to deploy towards its niche strategy.

The three-park portfolio includes, Patuxent Woods consisting of three single-story light industrial buildings totaling 85,000 square feet built in 1986. Rivers 95, the Portfolio’s largest park, totals 96,000 square feet, includes two single-story light industrial buildings and one two-story office building constructed between 1983 and 1984. Rivers III, is a three-building single-story office park, totaling 43,000 square feet built in 1988. The properties are superbly situated within the Baltimore-Washington (BW) Corridor, offering convenient access between the Washington, D.C. (26 miles from Portfolio) and Baltimore (16 miles from Portfolio) metropolitan areas. The portfolio is well located in the heart of Columbia, MD, one of the region’s most affluent and desirable areas and offers direct access to MD-29, MD-32 and I-95.

The portfolio is currently over 85% occupied by a strong roster of 19 tenants from a diverse mix of industries including healthcare, security, and technology.

“We are excited to grow our presence in the Columbia market through the acquisition of this exceptional portfolio of multi-tenant, light industrial and office properties that service a strong roster of tenants,” said Matthew Adler President and CEO of Adler Partners. “We believe this transaction perfectly represents our highly focused strategy of acquiring existing light industrial and related business parks with strong in place cash flow with an opportunity to add value.“

Adler Partners has significant expertise with multi-tenant light industrial properties and a proven track record of closing transactions. Adler Partners remains one of the few investors with discretionary capital focused on the asset class.

Cris Abramson, Brian Kruger, Nick Signor and Ben McCarty of Newmark Knight Frank represented the seller. Matt Melnick, and Scott Matthews of Cushman & Wakefield handle all leasing for Adler Partners in Maryland. Financing for the acquisition was provided by PNC Bank.

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