Massive industrial park in Maryland to be sold at foreclosure
Baltimore A Carroll County industrial park near Baltimore is slated to be sold later this month after its owner allegedly defaulted on the $13 million loan it borrowed to buy the 147-acre property, according to the Baltimore Business Journal.
Alex Cooper Auctioneers has scheduled a May 20 sale of the 900,000-sq.-ft. Hampstead Industrial Center, where Jos. A. Bank Clothiers, Stanley Black & Decker and Solo Cup Co. lease space.
The park’s owner is a subsidiary of San Francisco-based BTR Capital Management, which bought the 20-building complex in 2005 for $16 million. BTR Hampstead LLC borrowed $13.2 million from Ixis Real Estate Capital of New York to finance that purchase.