Ethika Investments Allocates Capital for Acquisition of Charles Center South in Baltimore, MD -- Investment marks Ethika's eighth capital allocation --
BALTIMORE, Jan. 15, 2014 /PRNewswire/ -- Ethika Investments, LLC, a U.S.-based real estate private equity firm, has allocated capital for the acquisition of Charles Center South in Baltimore, MD. This property marks the eighth investment from Ethika's Diversified Opportunity Real Estate Fund. Ethika's affiliate, Laurus Corporation, a real estate investment and development company specializing in hotel and resorts, office buildings and mixed-use properties, recently completed the acquisition of the office tower.
"Ranking eighth in the country for residential density, Baltimore's Central Business District has experienced 130% growth in residents since 2000," said Andres Szita, Chairman & Co-Founder of Ethika Investments. "This will drive the demand for office and retail space and further solidify the trophy building's dominant position in the market."
"The acquisition of Charles Center South is a prime example of Ethika's ability to identify and invest in opportunistic assets that are currently underperforming, yet display strong fundamentals and offer robust returns for our investors," said BJ Turner, Vice President of Capital Markets for Ethika Investments. "The vast amount of projected capital investment in the Central Business District will continue to attract high-caliber firms and add substantial value to the asset."
The iconic 25-story Class-A office building is located at one of the most recognizable intersections in Baltimore's Central Business District, the corner of Lombard Street and Charles Street. Originally built in 1975, the Center boasts 294,274 square feet of attractive modern decor and spacious floor plans. The stunning property features many desirable amenities, including an on-site gym, deli, concierge service, conference center and a 120-car underground parking garage.
Home to major financial services firms, including Legg Mason, T. Rowe Price and Alex. Brown & Sons, the second largest seaport in the United States and the world-renowned medical center at Johns Hopkins University, Baltimore continues to gain global prominence as an important anchor of commerce, technology and education.
Charles Center South is located at 36 South Charles Street, Baltimore, MD 21201.
Ethika Investments is a real estate private equity firm formed to provide investors access to a unique platform by tactically investing in opportunistic real estate assets primarily in the United States. It is affiliated with Laurus Corporation, a real estate investment and development company that specializes in hotel & resorts, office buildings, multifamily and mixed-use properties.
SOURCE Ethika Investments, LLC