KKR to acquire the Brickman Group of Gaithersburg for $1.6 billion

A year before its 75th anniversary, a Gaithersburg landscaping company that grew into one of the nation’s largest property management firms has been acquired by a global investment company for $1.6 billion. On Monday, the Brickman Group and its main investor, Los Angeles private-equity firm Leonard Green & Partners, announced that they would sell the business to KKR, the $90 billion global investment company. (Wash. Post)

Read Full Article

CareFirst lost $26M in 2012 as medical costs rose

CareFirst BlueCross BlueShield posted an operating loss in 2012 for the first time since the start of the recession as medical costs continued to climb, according to audited financials provided by the region's leading insurer. The Baltimore-based nonprofit booked a $26.3 million operating loss on $7.44 billion in revenue, compared with an $80.6 million profit on $7.19 billion in revenue a year earlier. (Balt. Bus. Journal)

Read Full Article

T. Rowe Price portfolio manager sees ‘target-rich’ 3-D investing

Hugh Evans III, a longtime small-cap portfolio manager at T. Rowe Price Group Inc. who will be leaving the Baltimore money manager at the end of the year to run the venture capital arm of a South Carolina-based maker of 3-D printing equipment, has invested in six startups at his new company — and sees a burgeoning 3-D sector in Maryland coming into focus. (Balt. Bus. Journal)

Read Full Article

Maryland in top 5 for higher-than-average percentage of re-sales for investors

Maryland is one of five states where more than 25 percent of residential investment properties purchased since 2011 have been resold. Maryland came in with 28 percent of re-sale, ranked behind California, Virginia, Minnesota and Nebraska, according to data by market research firm RealtyTrac. (Balt. Bus. Journal)

Read Full Article

Baltimore's largest public companies ride stock market's wave

Shares of the 10 largest publicly traded companies in the Baltimore area are up an average of nearly 50 percent this year. The Federal Reserve’s decision not to cut back yet on $85 billion in monthly government bond purchases has keep interest rates low, and companies in the Baltimore area have benefited. Through Friday, each of the largest public companies based in the region have posted double-digit gains in their stock price in 2013. (Balt. Bus. Journal)

Read Full Article

Baltimore firm files shareholder lawsuit against REIT merger

A Baltimore law firm said Monday that it filed a shareholder lawsuit against Cole Real Estate Investments Inc., claiming that the Phoenix-based company agreed to sell itself for less than its value. Cole agreed last month to be acquired by American Realty Capital Properties Inc. of New York in an $11.2 billion deal. (Balt. Sun)

Read Full Article

Giant and Safeway workers may consider labor contract Wednesday

Workers for Giant Food and Safeway supermarkets in the Baltimore-Washington area could vote on a new labor contract as early as Wednesday. Negotiations continued Monday between management for the two chains and union representatives for 28,000 Giant and Safeway workers in the region. An 18-month contract with the United Food and Commercial Workers expired Oct. 31 but was extended to Nov. 15. (Balt. Sun)

Read Full Article

Nov. 11 // State puts Kent Island project on hold

A developer's request for permits to build a bitterly disputed waterfront housing project on Kent Island has been put on hold after state officials discovered a "business relationship" between a high-ranking Maryland environmental official and a lawyer for the development team. In a written statement, the state Board of Public Works said Friday that it would delay action on the Four Seasons project pending a review of the relationship between the lawyer and the board's longtime wetlands administrator, Doldon W. Moore Jr. (Balt. Sun)

Read Full Article