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Dorchester View & Dorchester Woods Hanover, MD 21076

Acquired: 12/28/2006

Location
The Dorchester View and Dorchester Woods land parcels are located along the fast growing Baltimore-Washington Corridor, which continues to be space constrained, with limited entitled land available for residential or commercial development. These highly accessible sites are at the intersection of Route 100 and I-295 (the Baltimore-Washington Parkway), adjacent to a 900 unit-residential development, five minutes from the Arundel Mills Mall and commuter rail station, and only 10 minutes from BWI airport.

Description
Dorchester Woods totals 25 acres and is currently planned as a medium-density, 87-unit townhome community serving the residential demand along the B-W Corridor. The Dorchester View land parcel, totaling 18 acres, is currently in the planning stages with projections for additional medium-density residential development. These parcels are owned in a joint venture with Seneca Properties, a Bethesda, MD-based real estate investment firm.

Major Tenants

Investment Rationale

• Well situated land parcels in a fast growing corridor and adjacent to very successful residential development, demonstrating strong demand for residential product in the region
• Opportunity to take advantage of local job growth due to Base Realignment and Closure Act (BRAC)
• Experienced local partner

Fund Ownership
VII