In The Press

Portland Press Herald

“Portland Landlord with a Past Buys Building with a History,”August 30, 2013

One of downtown Portland’s most prominent and historic buildings has been sold.
Joseph Soley’s 5 Monument Square LLC bought the People’s United Bank Building at 465 Congress St. on Aug. 22 for $5.6 million, said Steve Baumann, the owner of Compass Commercial Brokers, which represented Soley.
The 10-story, 155-foot-tall building was built in 1909. It was the tallest building in Maine at the time and was known then as the city’s first skyscraper. It stands at Congress and Preble streets, overlooking Monument Square just to the east of the Time & Temperature Building.
Soley, an art buff, said Thursday that he fell in love with the building in 1969, when he drove from Baltimore to Portland on his motorcycle. (read more)

Portland Press Herald

“Vacated Medical Buildings Find New Life,” July 6, 2010

The southern Maine commercial real estate market has seen a trend with medical office tenants moving into larger medical campuses with a concentration of medical users. With the impending integration of the new health reform bill and an ever‐growing population, the trend seems to have medical offices needing newer more efficient space along with these campus styled medical locations. Examples of this currently include the Fore River Campus at Mercy Hospital and the Intermed building off of Marginal Way where Intermed consolidated most of their satellite medical offices into a new tower overlooking the city (read more)

Mainebiz

“Baumann Revamps Plans for Shops at 188 Middle,” March 16, 2010

Steve Baumann has always had a knack for finding new creative uses for pieces of Portland’s commercial property regardless of the economic climate, and the Shops at 188 Middle is no exception.
Baumann, a former Paragon Commercial Real Estate vice president who now works with Compass Commercial Brokers in Portland, says he is getting closer to filling up the former Canal National Bank building on Middle Street with a new upscale restaurant and several retail shops and boutiques that he describes as elegant, but still affordable.
“You can reposition real estate. You just have to be creative,” says Baumann. (read more)

Portland Press Herald

“Investing in the Future,” December 27, 2005

Family working toward new vision for Old Port. The Baumanns hope to attract diverse tenants to their buildings on Wharf and Fore Streets.” (read more)
New England Real Estate Journal
Thinking and planning your way through the three party tax deferred exchange,” September 1, 2000
Those of us who regularly deal with IRC Section 1030 Tax Deferred Exchanges know the general rules… (read more)