**CRC and Nile Equity Acquire Bowie Town Center for $50 Million**
Community Realty Company, Inc. (CRC) and Nile Equity Group have successfully closed on the acquisition of Bowie Town Center, a premier lifestyle retail destination located in Bowie, Maryland. The purchase price was $50 million.
The equity and debt for the transaction were arranged by Adam Bieber, Alec Jenkins, and Nicholas Kazma from BWE’s Washington, D.C. office. Senior debt was provided by Benefit Street Partners’ CMBS group, with equity sourced from private investors.
“We are focused on opportunistic acquisitions, like the Bowie Town Center, that fit our investment thesis of long-term ownership of unique assets,” said Joshua Aronson, President of CRC.
Originally opened in 2001, Bowie Town Center encompasses more than 293,000 square feet of retail space. Anchored by Barnes & Noble and LA Fitness, the center features a strong mix of tenants across apparel, beauty, wellness, and services, along with over 50,000 square feet of dining options. The property is located just 12 miles east of Washington, D.C.
