Sale of the 1st Mariner Tower completed by Hale Properties

by Kevin Lynch 29. October 2009

The sale of the 1st Mariner Tower, home of 1st Mariner Bancorp headquarters, was announced on Wednesday. The property was owned and controlled by Edwin F. Hale Sr. through his real estate development company, Hale Properties, and sold to Corporate Office Properties Trust (COPT), a publicly traded company based in Columbia, Md. 

This sale will have no effect on 1st Mariner Bancorp’s lease or occupancy in the building, where it also has a banking office. It is important to note that, while Mr. Hale is chairman and CEO of 1st Mariner Bancorp, 1st Mariner Bank held no stake in the building, nor did the bank hold in its lending portfolio any loans related to the building.

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