October 30, 2019
Madison Marquette structured $185 million financing through Bridge Investment Group to recapitalize One Light Street, its new mixed-use high-rise development in downtown Baltimore. The 28-story tower features luxury residential apartments, Class A office space anchored by M&T Bank and 5,000 square feet of ground-floor retail.
“We are delighted to see downtown Baltimore attracting continued investment confidence,” said Peter Cole, chief development/asset management officer, Madison Marquette. “This recapitalization is a solid endorsement of the live-work-play dynamic that One Light Street offers, along with its extraordinary location in the heart of the city’s original Business District.”
At Bridge Investment Group, managing director Jay Haberman said the success of One Light was “compelling proof that Baltimore’s harbor-city attributes continue to be magnets for new development.”
Cole and George Kelly led the recap efforts for Madison Marquette. Haberman represented Bridge. Phillips Realty Capital’s Mark Remington served as advisor in the recap.
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