Tornado-damaged Baltimore apartment complex is part of Chicago firm's big plans

A tornado-battered apartment complex typically doesn't make for a hot real estate item. But it's exactly the kind of property Pangea Ventures LLC is looking for in Baltimore.

Chicago-based Pangea has acquired Mount Pleasant Heights, a 120-unit complex at 2200 Pinewood Ave. The complex sustained severe tornado damage in 2010 that knocked one-third of its units offline.

Pangea during the next six to nine months plans to spend "significant money to bring the down units back online and [update] the existing units at the property," saidPeter Martay, Pangea's head of acquisitions.