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Finmarc Buys Maryland Retail Plaza for $30M

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Finmarc Buys Maryland Retail Plaza for M


Bethesda, Md.-based Finmarc Management wants to build a $250 million diverse real estate portfolio by the end of 2025, and the acquisition of a retail plaza not far from their home base keeps them well on target.

The firm has purchased Riverview Plaza, at 5425 Urbana Pike in Frederick, Md., for $30 million, Commercial Observer has learned. A joint venture between Edens and J.P. Morgan Chase sold the 185,275-square-foot shopping center, represented by Ryan Sciullo and Casey Benson Smith of CBRE. Finmarc was self-represented in the deal.

SEE ALSO: MetLife Acquires SoCal Office From Former Borrowers at 45% Discount

Riverview Plaza is currently 95 percent leased, anchored by TJ Maxx, Michaels, PetSmart and Bob’s Discount Furniture. Staples, The Home Depot and Target are also tenants.

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It’s now the second plaza in Finmarc’s Federick-area cadre. The firm acquired the neighboring Frederick Corporate Park for $43 million in 2020.

“Riverview Plaza in an institutional-quality regional shopping center with a proven track record

of high occupancy, tenant retention and strong sales,” David Fink, Finmarc’s co-founder and principal, said in a statement. “During a time when other retail venues suffered during the pandemic, the center’s national tenant mix pushed sales to new heights and more than 4 million shoppers visited Riverview Plaza last year, marking another high.”

Finmarc’s stated goal of building a robust portfolio doesn’t mean that the firm is afraid to shed some properties, however.

The Riverview Plaza purchase follows the firm’s sale earlier this year of 8000 Granier Court, an 88,000-square-foot flex/warehouse property in Northern Virginia, for about $16 million to C2 Imaging. The building is part of an 11-building group Finmarc acquired in mid-2022 for $128 million.

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“We are especially interested in underperforming properties that provide our team opportunities to build value with proven leasing and asset management tactics,” Fink said. “We view our private, internal capital as an advantage, as we are not constrained by a particular period for holding an investment or defined internal rate of return goals for any investor or partner that other companies may have.”

Nick Trombola can be reached at NTrombola@commercialobserver.com.



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Maryland grandparents allegedly shot dead by close business associate outraged over money dispute while on phone with 911

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Maryland grandparents allegedly shot dead by close business associate outraged over money dispute while on phone with 911


A Maryland couple was allegedly murdered in their home by a business associate enraged over money, with one of the victims heard pleading for her life in a chilling 911 call.

William “Charlie” Hayes, 56, and his wife, Jeanna Hayes, 54, were found shot inside their Pasadena home in the Long Point community — about 15 miles outside Baltimore — on Sunday around 2 p.m., according to the Anne Arundel County Police Department.

In the moments leading up to the killing, a 911 call from the couple’s home revealed the woman pleading with a man she identified as “Tony” not to shoot her.

William “Charlie” Hayes, 56, and his wife, Jeanna Hayes, 54, were murdered inside their Maryland home Sunday afternoon. Facebook

A short time later, the call captures the man quarreling with “Charlie” about money before gunshots erupt, CBS News reported. Additional shots rang out before everything suddenly fell quiet.

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The couple — who owned a home improvement construction business based out of their house — were pronounced dead at the scene when first responders arrived.

Through the 911 call and “additional investigative means,” detectives quickly identified Anthony Louis Reyes, 61, a business associate and friend of the couple, as the suspect, police said.

Reyes’ vehicle was picked up by an automated license plate reader hours after the cold-blooded murders, and an officer pulled him over.

However, the 61-year-old suspect allegedly fled, triggering a dramatic police chase.

Anne Arundel County Police Lt. AJ Gardiner told CBS News that during the initial traffic stop, Reyes got into a short struggle with an officer, resulting in minor injuries.

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Investigators quickly identified Anthony Louis Reyes, 61, a business associate and friend of the couple, as the suspect. Anne Arundel County Police

Officers eventually made Reyes pull over after about a seven-minute chase and swiftly arrested him.

Reyes has been charged with first- and second-degree murder and related offenses, police said.

The alleged killer is currently being held without bond.

The officer injured during the first traffic stop was taken to a local hospital to be evaluated and later released.

Gardiner said the couple’s deaths appear to be a targeted attack, though investigators have not released information about a potential motive.

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“This was a person who was known to the family, both personally and in business,” Lt. Gardiner said. “I don’t know of any issues.”

The couple’s murders appear to be a targeted attack, though investigators have not released information about a potential motive. Facebook

Gardiner noted that the 911 call could play a vital role in understanding the details of the tragic shooting.

“It’s unfortunate we weren’t here in time to prevent it, but the information that was relayed really led us to a position where we could start isolating other things,” he said.

Authorities also revealed that the couple’s adult granddaughter lived with them but wasn’t home during the shooting.

Toni Arnold, the father of the granddaughter, told CBS News the killings have left their family shaken.

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“I just can’t believe somebody viciously murdered them in broad daylight,” Arnold said. “He didn’t deserve that. He took care of his wife; he took care of my daughter. It just breaks my heart.”

The couple — who owned a home improvement construction business based out of their house — were pronounced dead at the scene when first responders arrived. WMAR

Kathy Nguyen, a nearby resident, said she heard the shots from her house just down the road.

“I heard a couple of pop noises. I heard, ‘pop, pop,’” Nguyen recalled, adding that she initially thought it was hunters in the nearby woods before realizing something was wrong.

“Lights and sirens, and then they started running toward the house with rifles, and I thought whatever is going on is not good,” Nguyen said. “And then when I heard about what happened, it shook me to my core.”

Anne Arundel County Police Chief Amal Awad said the double murder has rocked the “very close-knit community.”

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“It’s just terribly horrific, especially right before the holiday season,” Awad told the outlet. “This is a very close-knit community. You can see it by how they have already started decorating for the holidays.”

Awad described Long Point as a quiet, low-crime community filled with waterfront homes, family houses, and cottages.

“We are very surprised to get a call like this here,” Awad said. “We know we have family members who are grieving tonight, and this entire community is grieving, and they are going to have to journey forward trying to make sense of what happened.”



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Chilly, windy weather in Maryland Monday, rain to return Tuesday

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Chilly, windy weather in Maryland Monday, rain to return Tuesday



Cold weather and gusty winds will be the big story across Maryland Monday. Rain will return Tuesday afternoon and evening. 

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After the rain departs early Wednesday, clouds linger Wednesday into Thursday. 

Gusty winds Monday across Maryland

After an incredibly windy Sunday across the state with gusts ranging from 45 mph to 60 mph, we’re gearing up for another day of gusty winds Monday. Wind gusts throughout today won’t be quite as strong in the 25 to 35 mph range. 

Despite plenty of sunshine Monday, high temperatures will only reach the upper 40s to near 50°. Wind-chills throughout Monday will stay in the 30s and 40s. 

Rain returns Tuesday afternoon in Maryland

Get ready for a gloomy stretch of weather that begins Tuesday. Periods of light to moderate rain are likely across central and eastern Maryland Tuesday afternoon through Tuesday night. Clouds continue Wednesday into Thursday before another system brings us more light to moderate rain Friday into Saturday.

Tuesday will start dry and chilly across Maryland with early morning temperatures in the 20s and 30s. Clouds quickly thicken Tuesday morning with temperatures climbing into the 40s. Showers and pockets of light to steady rain will break out across the area after 1 p.m. Tuesday. This light to moderate rain will continue through the evening commute and into Tuesday night. Rainfall totals will range between 0.25″ and 0.33″. As of now, winter weather in the form of wet snowflakes and/or sleet should not be a problem within the WJZ viewing area. 

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Steady rain should exit the area just before the morning commute begins on Wednesday. Some residual damp streets and sidewalks are possible, but the weather should be drying out. Don’t expect much sunshine Wednesday or Thursday with mostly cloudy to cloudy skies not budging with highs in the lower 50s. 

Another storm system pushes in from the west Friday into Saturday with more light to moderate rain across the area. This will also usher in some milder weather Friday morning, with temperatures starting off in the lower 60s. As a cold front crosses the area, cooler air will filter in later Friday into Saturday. 

Leonid meteor shower peaks

Early this week, the Leonid meteor shower will peak. Only up to 10-15 meteors per hour will be visible under ideal conditions. The shower peaks on Monday night. Viewing conditions should be decent earlier in the night before increasing clouds obscure viewing conditions before dawn Tuesday. 



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Betting odds released for Michigan Football at Maryland

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Betting odds released for Michigan Football at Maryland


The 8-2 Michigan Wolverines have two games left in the regular season, and their final road game is next week against the 4-6 Maryland Terrapins. The Wolverines will be a sizable favorite against the Terrapins.

Michigan is 11-1 all-time against Maryland. Michigan’s only loss to Maryland was in 2014 (23-16), which was Brady Hoke’s final season as Michigan’s head coach. However, the last two contests have been close, a 31-24 Michigan win in 2023 and a 34-26 victory in 2022.

Maryland head coach Mike Locksley is 37-47 as Maryland’s head coach, with their last winning season being in 2023. Maryland finished 4-8 last year and will likely finish below .500 for the second consecutive season.

Will Michigan cover the spread against Maryland? Let us know in the comments.

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