Community Realty Company, Inc. (CRC), a leading owner and operator of commercial real estate in the Washington, D.C. region, and Nile Equity Group closed on the Bowie Town Center, a premier lifestyle retail destination located in Bowie, Maryland. The purchase price was $50 million.
“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. “Bowie Town Center is a property that we look forward to bringing the center back to its former vibrancy, and we cannot wait to engage with the market, retailers, brokers, and community stakeholders to ensure that we are enhancing the experience with long-term vision. Given the importance of this property to the community, we feel a great sense of responsibility. We are grateful to our investors for their conviction and are excited to continue our partnership with Nile Equity Group on our second retail acquisition in the past 12 months.”
The equity and debt for the acquisition was structured by Adam Bieber, Alec Jenkins, and Nicholas Kazma from BWE’s Washington, D.C. office, with senior debt provided by Benefit Street Partners’ CMBS group and equity provided by private investors.
“We share an aligned vision with CRC of investing in assets in the communities that we live in,” said Amine Hammedi, one of the co-founders of Nile Equity Group. “These are the types of buys that you do not see often, so we are thrilled to have the opportunity to purchase this type of project.”
“Our disciplined approach and willingness to invest substantial cash and resources into Bowie Town Center will bring new life, excitement, and value to the community,” remarked Seyi Ademiluyi, one of the co-founders of Nile Equity Group, “We will continue to search for additional opportunities in 2026 and beyond that fit similar characteristics.”
Opened in 2001, Bowie Town Center spans more than 293,000 square feet and is anchored by Barnes & Noble and LA Fitness. The center is home to a strong mix of apparel, beauty, wellness, and service retailers, as well as more than 50,000 square feet of dining options serving the surrounding community. The property is a central component of Bowie’s primary retail hub, which welcomes approximately 5.5 million customer visits per year, making it one of the busiest lifestyle retail destinations in Maryland.
Located just twelve miles east of Washington, D.C., Bowie is a bedroom community in the heart of Maryland’s affluent and densely populated Prince George’s County. Bowie Town Center is easily accessible from the wider region via nearby U.S. Route 50 and U.S. Route 301 and is walkable from the City of Bowie Government Center.