CBRE sells foreclosed condos in Towson MD

CBRE Realty Finance Inc. has sold the 508-unit Rodgers Forge Condominiums, a Towson condo conversion project, for $45 million in cash to an undisclosed buyer, the Hartford, Conn.-based company said yesterday. The commercial real estate finance company had foreclosed on the complex in May, then took control of the property in June after a foreclosure auction at which it bid $1 million and assumed debt of $36.5 million. The sale, which closed Monday, generated net cash of about $8.1 million for CBRE.

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