Baltimore Peninsula development team owners Sagamore Ventures and Goldman Sachs Urban Investment Group will no longer be involved in future phases of the Baltimore Peninsula project. The project’s lender, Bank OZK, will now take over the undeveloped land after the Baltimore Peninsula development team decided not to extend or refinance its current debt on the undeveloped land.
According to the Baltimore Business Journal, the loan is for $66 million with a balance of $45.2 million.
Houston, Texas-based private real estate firm Hines will be the asset manager for the already-developed portion of Baltimore Peninsula. Hines has $91.8 billion of assets, according to its LinkedIn page, and has acquired more than 1,600 properties comprising more than 540 million sq. ft.
