June 6, 2017
Ari Abramson, VP, Acquisitions Panelist at The Associated’s Annual Real Estate Event
Andrew Finkelstein, JLL (far right) served as moderator for The Associated’s annual Real Estate Industry Group event held recently at Brown’s Wharf in the Fells Point section of Baltimore City. Panelists included (left to right) David Hoffman, General Manager, Sagamore Pendry Hotel; Michael Hankin, President and CEO, Brown Advisory; Michael Beatty, President, Beatty Development and Ari Abramson, Vice President of Acquisitions for CRC.
Earlier this year, Continental Realty Corporation, a Baltimore-based real estate investment and management company, acquired the historic, 104,000 square foot mixed-use project situated along the Baltimore City Waterfront at 1615-1637 Thames Street.
At the time of the sale, Ari Abramson commented “We consider Brown’s Wharf a one-of-a-kind and irreplaceable property in Baltimore City given its placement along the waterfront, and central location within an area that has been the recipient of a dramatic shift of energy over the past several years. The project brings strong value-add opportunities and an operational upside that we intend to achieve with more than $2 million of fresh capital to upgrade the building systems, refresh the interior common areas and add greater street presence.”
Last evening, Abramson detailed the renovation plan which will be highlighted by the installation of new exterior signage; the installation of an upgraded lighting package and retail facades; the potential construction of a small marina for boat slips; improvements to common areas with a focus on the main lobby, corridors and bathrooms and new exterior brickwork.
He described the presence of nearby “influencers” including Bond Street Wharf’s Brown Advisory, Sagamore Development’s Pendry Hotel and Harbor Point. Continental Realty Corporation is joint venturing with WorkShop Development to improve and lease Brown’s Wharf with the team of Doug Schmidt, Richard Manekin and Neil Tucker overseeing the day-to-day operations and execution of the redevelopment plan.
Continental Realty Corporation (CRC), headquartered in Baltimore and founded in 1960, is a full-service commercial real estate investment and management company. The privately-owned firm owns and manages a diversified portfolio of retail centers consisting of over 3.5 million square feet of space, as well as apartment communities featuring nearly 10,000 apartment homes. Positioned throughout the Mid-Atlantic and Southeast regions, the value of the portfolio exceeds $1.5 billion.