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Kelley Drye s Washington, DC Business Group is
pleased to share the following transactions that we have closed
over the past year:
Acquisition of Frederick, Maryland Office Park; and Subsequent
Sale of One Building.
Affiliates of Finmarc Management acquired an approximately
440,000 square foot office park (including 5 parcels in fee and a
ground lease), comprised of 11 buildings, for more than $40 million
as part of the back-end of a 1031 like-kind exchange. Shortly
after acquiring the office park, the Kelley Drye clients began a
lease up program and implemented a land condominium in order to