Merritt Properties completes $400m investment deal with Almanac

Merritt Properties has entered into a $400 million agreement with an investment fund managed by Almanac Realty Investors.

The capital will allow Merritt Properties to grow its portfolio by 20 percent to 30 percent by buying, developing or redeveloping industrial properties in the Baltimore-Washington corridor.

Merritt Properties owns and manages nearly 16 million square feet of office buildings in CBD and suburban locations, flex and industrial warehouse, manufacturing and distribution facilities, data centers, mixed-use developments, and retail locations. Growth of 30 percent would amount to another 4.8 million square feet.