Insights

MacKenzie Capital Arranges Construction Loan for Mount Vernon Redevelopment

MacKenzie Capital, LLC is pleased to announce they arranged construction development financing for the redevelopment of Grand Central into City House, a 38,000 square foot Class A office and retail project located in the heart of Baltimore’s Mount Vernon neighborhood. Situated along the thriving Charles Street Corridor, the project sits at the corner of Charles and Eager Streets. MacKenzie Capital President John Black and Vice President Brendan Harman worked with project developer Landmark Partners, a real estate and community development firm, to secure the financing.

“Baltimore’s Mount Vernon neighborhood is one of the strongest submarkets in Baltimore for office, retail, and apartment projects. The continued flight-to-quality for new, state of the art finishes with neighborhood amenities is expected to drive demand to the property,” stated Brendan Harman. “We enjoyed working with the project team and taking part in the area’s redevelopment.”

The project includes first floor retail with seven levels of office space above and will incorporate modern designs that compliment the historic property and surrounding neighborhood. Construction began last month on the partially pre-leased project with an anticipated delivery of early 2022.

MacKenzie Capital, LLC is a real estate capital advisory firm that commerc­­­ial real estate owners, developers, and investors rely on for their debt, equity, and project financing needs.  Our creative, hands-on, and client-focused approach to capital advisory ensures that our clients are getting the most effective financing for their project in the current market.  For decades, our team of experienced advisors has successfully arranged financing for small and large projects of all property types throughout the country. MacKenzie Capital is an affiliate of The MacKenzie Companies, one of the Mid-Atlantic’s largest independently owned full-service commercial real estate firms that is based in Baltimore, Maryland.

For more information about MacKenzie Capital’s offerings, please visit www.mackenziecommercial.com, or contact John Black at jblack@mackenziecommercial.com or 410.494.6652; or, Brendan Harman at bharman@mackenziecommercial.com or 410.494.6656.

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MacKenzie Ventures, LLC (MacKenzie) possesses the multi-disciplined team necessary to excel in Maryland’s corporate real estate community. Comprising seven firms, MacKenzie provides clients a competitive, full service platform of offerings in leasing, sales, investment sales, tenant and landlord advisory services, corporate and business consulting, commercial development, general construction, property and asset management, multifamily property management, debt and equity capital placement, and GIS/Data Analytics.  With more than 225 employees and offices in Annapolis, Baltimore, Bel Air, Columbia, and Lutherville, Maryland, MacKenzie is one of the largest full service commercial real estate firms in the Mid-Atlantic. Please visit www.mackenziecommercial.com for more information.