Community Realty Company, Inc. (CRC) and Nile Equity Group closed on the Bowie Town Center, a lifestyle retail destination located in Bowie, Maryland. The purchase price was $50 million.
The equity and debt for the acquisition were structured by Adam Bieber, Alec Jenkins, and Nicholas Kazma from BWE’s D.C. office, with senior debt provided by Benefit Street Partners’ CMBS group and equity provided by private investors. We are focused on opportunistic acquisitions, like the Bowie Town Center, that fit our investment thesis of long-term ownership of unique assets,” said Joshua Aronson, President of CRC.
Opened in 2001, Bowie Town Center spans more than 293,000 square feet and is anchored by Barnes & Noble and LA Fitness. The center is home to a strong mix of apparel, beauty, wellness, and service retailers, as well as more than 50,000 square feet of dining options located in Bowie, just twelve miles east of Washington, D.C.
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