12 Jan 2017

BALTIMORE, MD — Blue Ocean is pleased to announce the recent sale of the Baltimore VA Annex at 209 West Fayette Street. The property was sold to a west coast investment company. This purchase represented their first investment in Baltimore.

The 80,000-square-foot, seven-story building was built in 1920. This historical building is just a short distance from the Baltimore VA Medical Center.

Blue Ocean was represented by Marcus & Millichap’s John Smelter, a senior director of the company’s Healthcare Real Estate Group; Ryan Gonzales, an associate with the Healthcare Real Estate Group; Robert Filley, a senior associate in the Washington, D.C., office; and Chris Beck, an associate in the Baltimore office. According to John Smelter, “the deal demonstrates investors’ growing interest in healthcare real estate in the Baltimore market due to anchor institutions like Johns Hopkins and the University of Maryland Medical Center.”

About Blue Ocean

Located in Baltimore, Blue Ocean Realty is active in syndicating, purchasing and managing commercial real estate assets in the multifamily, office, retail and industrial sectors. The Company was founded in 2004. Since that time Blue Ocean has grown its portfolio to 45 properties valued at over $300,000,000. The Blue Ocean portfolio consists of nearly 3,500 apartment homes and approximately 2,000,000 square feet of commercial space.