A judge has approved a deal for MCB Real Estate to buy the beleaguered Harborplace in Baltimore’s Inner Harbor.
The twin mall-like pavilions with a mix of stores and restaurants have been losing money for years under an out-of-state owner. New York-based Ashkenazy Acquisitions Corp. bought Harborplace a decade ago for about $100 million and promised major renovations to the pavilions. But the firm defaulted on a $76 million loan, plunging Harborplace into receivership in 2019.
Turning around the sinking Harborplace — considered an iconic part of the Inner Harbor — is seen as key to attracting people and businesses to downtown. Mayor Brandon Scott announced in April that David Bramble and his firm MCB had agreed to buy Harborplace.
A Baltimore Circuit Court judge approved that deal Friday, according to online court records. The online records did not disclose a sales price.
Click here to read the rest of the article written by Giacomo Bologna over at The Baltimore Sun
