What’s the largest retail properties investor from Maryland?

The established thousandinvestors research team has identified that First Washington Realty is the largest retail real estate investor from Maryland, with more than $8.9B in assets under management.

What is the investment focus of First Washington Realty?

First Washington Realty (FWR) is a fully integrated, national real estate investment and management firm that specializes in the ownership of retail real estate that is oriented towards convenience, necessity, and experience.

FWR’s portfolio encompasses 143 shopping centers, with a value exceeding $8.9 billion, strategically situated across 22 states and the District of Columbia. The shopping center real estate portfolio contains nearly 21.9 million square feet and is home to over 3,600 tenants. The firm’s investment strategy entails the acquisition of retail properties classified as “Convenience and Necessity” and “Core, Core +” in prime locations across the United States.

Alternative candidates for the AUM-based ranking of retail real estate investors in Maryland

The largest alternative candidate for our ranking is MCB Real Estate, a national institutional investment and asset management firm with a diverse portfolio spanning industrial, office, multifamily, mixed-use, and retail properties.The company strategically allocates capital across a range of investment vehicles, including core, core-plus, and value-add/opportunistic strategies, with the objective of addressing complexities at the capital and asset levels to unlock long-term value. In the retail sector, MCB has a presence across all property types, including open-air and grocery-anchored shopping centers, urban retail, and malls.

Another major retail real estate investor is FCP, a privately held national real estate investment firm founded in 1999, with a track record of over $14.6 billion in gross asset value invested or financed. The firm’s investment strategy encompasses both the commercial and residential sectors, with a focus on equity and structured investments in income-producing and development-stage properties across the United States. With $4.2 billion in assets under management across six active funds, FCP employs a flexible, value-driven approach to real estate investing. In the domain of retail real estate, FCP identifies well-situated properties that exhibit potential for repositioning or redevelopment.

Both investors are part of the thousandinvestors list of the largest retail real estate investors from the US.

Image source:  Seth Hoffman via Unsplash (June 24, 2025)