Acquisition

• Acquired in October 1998 through joint venture with a local operating partner
  
  
• Partially completed, 20-acre development
  
  
• Located on Baltimore's Inner Harbor
  
  
• Existing Infrastructure:
  • 200 unit luxury tower
  • 1,000 car underground garage
  • 288 slip marina
  • 20,000 sf marina building
    
    
• Future development:
  • 7 prime waterfront parcels