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42-557: The site was at one time the location of the Annapolis terminus of the Washington, Baltimore and Annapolis Electric Railway , and was known as the "Best Gate" station, which had three single-ended and four double-ended sidings, where rail cars could be shunted on or off of the single-track WB&A east–west railway which ran to the north–south Baltimore and Ohio Railroad and Pennsylvania Railroad lines. This "Best Gate" station gave

84-517: A Community Pantry where staff distribute diapers, baby supplies, hygiene items and menstrual supplies twice a month. In May 2020, Nordstrom announced it would shutter their Annapolis location during a wave of secondary store closures. The store closed on July 15 of that same year. The SPCA of Anne Arundel County opened an animal shelter called "Paws at the Mall" at the mall in September 2020. It

126-423: A big buyer of distressed single-family home mortgages. To support its effort, it formed a venture with Coldwell Banker Commercial named Coldwell Banker Commercial Alliance. Waterfall would buy distressed commercial real-estate assets and the venture would will sell and lease the properties. The leasing deals would be under 100,000 square feet and sales valued at $ 10 million or less. Waterfall moved away from

168-672: A commercial mortgage REIT and listing it on the New York Stock Exchange under the ticker 'RC'. It is a real estate finance company that deals in small to medium balance commercial loans. Waterfall currently is its external manager. In July 2013, Dyal Capital acquired a minority interest in Waterfall from M.D. Sass-Macquarie Financial Strategies, a joint venture between M.D. Sass and Macquarie Group that invests in investment funds. In November 2018, Waterfall issued $ 571.8 Million in jumbo reverse mortgage bonds,

210-576: A day. With the business seemingly successful, the WB&;A went into an expansion and investment phase. In 1921 it opened a new Washington, DC terminal on New York Avenue and purchased the Baltimore & Annapolis Short Line . The B&A became known as the " North Shore Line " and the old A&ER was called the " South Shore Line " . To consolidate operations, the B&;A gave up its terminus at

252-412: A traditional hedge fund structure to become more like an asset management company . Apart from the hedge funds it managed, it also dealt in the separately managed account business as well as private equity. By offering a wider product offering, it was able to attract mandats from pension funds and retirement plans. In 2013, Ready Capital was founded by Waterfall converting one of its private funds to

294-536: The Camden Street Station of the Baltimore and Ohio Railroad and started using the WB&A terminal on Liberty Street (between Lexington and Fayette) in Baltimore. Until 1921, the WB&A and B&A ran on separate, parallel tracks between Linthicum and Baltimore. But on March 16, 1921, a crossover opened between the lines at Linthicum . Operations ceased on the B&O track, and a new terminal

336-638: The Chesapeake Beach Railway just outside Washington at Chesapeake Junction . From there, it continued to Deanwood on the Washington Railway and Electric Company 's Seat Pleasant Line , running parallel to the Chesapeake Beach Railway tracks and across the Benning Road Bridge into downtown Washington. Once onto their own right-of-way, the WB&A's expresses regularly hit 60 mph, but street running in

378-571: The Macquarie Group managing the principal finance group. In late 2004, Ross called Capasse with an idea to start their own firm, Waterfall Asset Management. They connected with boutique asset management firm, M.D. Sass to launch its first fund, the Waterfall Eden Fund which targeted residential mortgages and home equity ABS. During this time ABS deals became publicly traded and by 2007 private placements had given way to

420-744: The 1920s, when passenger business was good, the line purchased and operated steel two-car articulated (attached body with a common center truck/boogie) coaches on the Baltimore-Annapolis route. This equipment later went to the Milwaukee Electric Line in Wisconsin. Around the time of the purchase of the ASL, the Defense Highway was built, providing an alternative route into Annapolis. As a result, gross receipts for

462-643: The B&O to serve Fort Meade until sometime between 1979 and 1981. It too was removed to allow for the construction of the Patuxent Freeway. Only the junction tracks at Annapolis Junction, which are used by an aggregates terminal, and an abandoned spur from the Amtrak mainline to the old Nevamar plant in Odenton remain. The right-of-way of the North Shore Line and some equipment were bought by

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504-573: The Bondholders Protective Society, which then formed the Baltimore and Annapolis Railroad Company , which continued to operate rail passenger service between Baltimore and Annapolis until 1950; passenger buses into the early 1970s to Brooklyn in South Baltimore, connecting with the #6 transit line for streetcars and buses of the old Baltimore Transit Company and they then sold it in the 1980s. Freight continued on

546-673: The Japan-developed SCMaglev system to transport passengers from city to city in 15 minutes. As of 2020, Northeast Maglev was working with the Federal Railroad Administration and Maryland Department of Transportation , the project sponsor, to prepare an Environmental Impact Statement for the proposed railroad. In 2021, BWRR attempted to take control of a 43-acre parcel of land for its planned station in Baltimore's Westport neighborhood through eminent domain . It argued that its purchase of

588-604: The Main Line. The railroad built a short spur off the line to a railyard there. In September 1917, as the U.S. entered World War I , George Bishop, the WB&A's well-connected president, persuaded the U.S. Army to acquire land owned by the railroad and open a training facility. Camp Meade was established in the area roughly bounded by the B&;O Washington Branch on the west, the Pennsylvania Railroad on

630-601: The U.S., Waterfall has offices in London, Dublin and Hong Kong. In the mid-1980s to the early 1990s, Tom Capasse and Jack Ross worked together at Merrill Lynch where they established its ABS Group. Ross worked on the first auto loan securitization in 1985 when he was previously at Drexel Burnham Lambert while Capasse crafted some of the first subprime mortgage-backed securities in the late 1980s for Merrill Lynch. They later went their own ways with Ross creating his own broker-dealer firm, Licent Capital while Capasse moved to

672-474: The WB&A franchise gave it authority to take the land. Waterfall Asset Management Waterfall Asset Management (Waterfall) is an American alternative investment management firm headquartered in New York City . The firm's focuses investments in credit structured products mainly high-yield asset-backed securities (ABS). It also invests in real estate and private equity . Outside

714-578: The east, and the South Shore Line of the WB&A to the south. The installation was supposed to be a temporary facility, used only for the duration of the war, but it remains in use today as Fort Meade, site of the headquarters of the National Security Agency . The WB&A saw record traffic during this time as a result of freight and passenger service to the camp. In 1918, the railroad was running as many as 84 special trains

756-518: The entire railroad had been liquidated, including the right-of-way; the Annapolis substation; the train terminals in Baltimore and Washington; the Naval Academy Junction shops and properties in South Baltimore. At some point between 1951 and 1956, the tracks in D.C. were removed. In 1950, when the B&A rail passenger service ended, the old WB&A terminal at Howard and Lombard Streets in Baltimore, which had been sold in 1935 to

798-452: The last traditional department store. On May 16, 2024, it was confirmed that mall owner Unibail-Rodamco-Westfield were in negotiations to sell the mall. This came after a prior announcement in 2022 that the company was seeking to sell their American malls, later amended to only selling non-flagship properties. On August 5, 2024, it was reported that Centennial Real Estate Management acquired the property for an undisclosed sum, renaming it back to

840-512: The line with diesel until it was adapted for light rail in 1992, and then freight ran on the light rail line at night for several years after that. On June 5, 1908, two of WB&A's single-car trains collided at Camp Parole, Maryland. Nine people died as a result of the crash, including Railroad Policeman J.G. Schriner. The trains were ferrying riders to and from the United States Naval Academy for graduation ceremonies at

882-593: The mall's owner Westfield Group was acquired by French firm Unibail-Rodamco, becoming Unibail-Rodamco-Westfield . In April 2018, Anne Arundel County Public Library opened a temporary branch called "Discoveries: the Library at the Mall", in Westfield Annapolis. It moved to a permanent location in the former American Eagle and Charlotte Russe stores in February 2020. Since July 2021, the library includes

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924-407: The mall, both slated to open in the winter of 2025: Dick's House of Sport and Dave & Buster's . On Saturday, November 18, 2006, an off-duty United States Secret Service agent was at the mall when he witnessed a fight in progress in the food court. During the attempt to break up the fight, one of the combatants pulled a gun and fired at the agent, wounding him. The agent returned fire, hitting

966-532: The most advanced technology of the time. The WB&A absorbed two older railroads, the Annapolis and Elk Ridge Railroad and the Baltimore & Annapolis Short Line , and added its own electric streetcar line between Baltimore and Washington. It served Washington, Baltimore, and Annapolis, Maryland , for 27 years. In 1935, the railroad was sold at auction, undermined by the Great Depression and

1008-424: The name to the nearby Bestgate Road, which today runs along the northern perimeter of the mall. A free-standing, single-level Montgomery Ward store occupied the site during the 1970s. Following the construction and opening of a single-level mall on the site in 1980, Montgomery Ward became an anchor. Additional anchor stores included Washington, D.C.-based Garfinckel's and Hecht's , both with two levels. The mall

1050-454: The original mall's name. On September 3, 2024, Centennial formally announced their acquisition of the mall as part of a consortium that also includes former WeWork and GGP CEO Sandeep Mathrani , Waterfall Asset Management and Lincoln Property Company. Through Mathrani's company Atlas Hill Real Estate, both Centennial and Mathrani will serve as owners of the property. The announcement also came with news that two new anchors would be joining

1092-487: The owner of the "WB&A restaurant" in the terminal, became the bus terminal for the B&A passenger bus system. by then the tracks had been torn out and replaced with a parking garage. It was knocked down in 1964 for a Holiday Inn Motel. While the vast majority of the South Shore division was abandoned and sold for scrap in the 1930s, the portion between Annapolis Junction and Odenton was purchased and operated by

1134-702: The ownership of WRECo and then the old Capital Transit Company . In 1936, the Pennsylvania RR took over the spur to Bowie Race track and the short section of the WB&A from the Bowie Race Track junction south to the bridge over Horsepen Run. Most of the rest of the main line from the Patapsco River near Pumphrey Station to Washignton, DC was sold to the Maryland State Roads Commission in 1941. By March 1946,

1176-537: The railroad began to decline. The railroad only survived because of a law exempting it from taxes. In January 1931, during the Great Depression , the extension of the law failed to pass by one vote and the line went into receivership. The line remained in operation for four more years and the Evans Products Company of Detroit negotiated to buy the railroad in June 1935, but those negotiations failed and

1218-515: The railroad officially ceased operations on August 20, 1935. The railroad was sold at auction in 1935 and the Main Line and South Shore Divisions was bought by WB&A Realty. They sold the rolling stock to scrap dealers. Over time, the rails were hauled away, though by the beginning of World War II some remained and at least one post-War home in the area used old rails in lieu of I-beams. The right of way within Washington, D.C., remained under

1260-622: The rise of the automobile . Successor companies continued to offer passenger service on the line between Annapolis and Baltimore until the late 1950s, when the trains were replaced by a bus service that operated until 1968. Today, parts of the right-of-way are used for Baltimore Light RailLink , a light rail service from Cromwell Station / north Glen Burnie to downtown Baltimore and further north through city to Hunt Valley in Baltimore County . Other parts are now rail trails or roads through Anne Arundel County . The WB&A

1302-533: The securitization market. When the subprime mortgage crisis occurred, Waterfall was able to take advantage as Capasse and Ross were able to structure private placement deals in a new manner. Waterfall made use of principal reduction for mortgages which were was rarely used by its peers. The best opportunities for Waterfall were found in ABS securities that were once had a credit rating of AAA but later downgraded to junk status. By 2012, Waterfall had become known as

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1344-599: The shooter twice. A third person was wounded in the altercation. A midshipman from the U.S. Naval Academy ran toward the sound of gunshots and provided first aid for the Secret Service agent. That midshipman later received the Navy and Marine Corps Achievement Medal. The mall was closed shortly after the incident, with all patrons asked to leave over the public address system. The associated trial ended in December 2007 and

1386-419: The shooter was sentenced to 65 years in prison. Washington, Baltimore and Annapolis Electric Railway The Washington, Baltimore and Annapolis Electric Railway (WB&A) was an American railroad that operated from 1899 until 1935 in central Maryland and Washington, D.C. It was built by a group of Cleveland, Ohio , electric railway entrepreneurs to serve as a high-speed showpiece line using

1428-573: The terminal cities slowed their overall time. A typical B&O express made the trip in 50 minutes, but the best the WB&A could do was an hour and 20 minutes. Offsetting these handicaps were its cleanliness, lower fares, half-hourly express service, and better-located downtown terminals. Always looking for new sources of business, the railroad, in 1914, convinced the Southern Maryland Agricultural Fair Association to establish Bowie Race Track along

1470-761: The time of the accident. Stations on the South Shore Line (Annapolis and Elk Ridge Railroad) Stations on the North Shore Line (Baltimore and Annapolis Railroad) In the 2010s, an effort to build a maglev railroad between Washington and Baltimore led the Baltimore-Washington Rapid Rail company (BWRR) to acquire a passenger railroad franchise previously held by the WB&A. The Maryland Public Service Commission (PSC) approved BWRR's application in 2015. BWRR, with its sister company Northeast Maglev , proposes to use

1512-410: Was built at the southwest corner of South Howard and West Lombard Streets across from what is now 1st Mariner Arena . The new WB&A then consisted of 81 miles of track and was the only practical way to get from Washington, D.C. to Annapolis. Initially, passengers between Baltimore-Washington and Annapolis rode the "classic" 1900-1910 arch-window all-wood-body truss-rod-frame interurban coach. In

1554-429: Was closed in 1907, electrified, and reopened in 1908. It ran from the B&O main line at Annapolis Junction , crossed the WB&A main line just east of Odenton , and headed east via Millersville and Crownsville to Annapolis. At the same time, it laid an almost straight double-track route parallel to the Baltimore and Ohio and Pennsylvania railroads, but slightly to the east in less populated territory. This

1596-466: Was expanded in 1983 with the addition of a single-level JCPenney . Garfinckel's closed in 1990 after the company went bankrupt. After the mall was acquired by Westfield Group , it was expanded again in 1994 with the addition of a two-level Nordstrom store as well as an expanded food court. In 1998 a two-level Lord & Taylor store opened which was followed by the opening of an 11-screen movie theater. The Montgomery Ward store closed in 2001 and in 2002

1638-432: Was originally incorporated in 1899 as The Potomac and Severn Electric Railway . On April 10, 1900, it changed its name to the Washington and Annapolis Electric Railway and finally, on April 8, 1902, to the Washington, Baltimore and Annapolis Electric Railway . In 1903, the WB&A purchased the Annapolis, Washington & Baltimore Railroad (AW&B) — formerly the Annapolis & Elkridge Railroad — which

1680-662: Was replaced with a Sears store. Hecht's became Macy's in September 2006. Another large addition to the mall was completed in 2007, which included an expansion of the existing JCPenney store. The former Garfinckel's space once housed a two-level Borders Books and Music store which operated during the mid-2000s until its closure in 2011. A two-level Forever 21 store now occupies the space. Lord & Taylor announced in August 2017 that they would close. Westfield announced its space would be reconstructed into additional stores including The Container Store . In December of that same year,

1722-608: Was the WB&A mainline. On February 7, 1908, service began from Liberty Street in Baltimore to its Washington terminal at 15th and H Streets NE . After 1910, the line reached the heart of downtown DC on 15th Street near the Treasury . In 1911, the WB&A electrified service on the mainline. The line built by the WB&A, later called the Main Line , ran from Baltimore to Washington through Bowie , Glenn Dale Hospital , and Glenarden to Fairmont Heights , where it met with

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1764-565: Was the first animal shelter of its kind to operate inside of an indoor shopping mall. In April 2022, AMC Theatres announced the acquisition of seven Bow Tie Cinemas locations, including their location at Westfield Annapolis. The theater reopened as AMC Annapolis Mall 11 on the weekend of April 21, 2022. On May 10, 2024, a listing by local retail broker H&R Retail confirmed that the mall's JCPenney department store would close in 2025 and be replaced by 5 new tenants, including Hobby Lobby , Grocery Outlet and Onelife Fitness, leaving Macy's as

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