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Maryland Multifamily Portfolio
Acquired in late 2014 from a (finite life) institutional commingled fund, the portfolio consists of two garden style apartment communities located in the Washington, DC suburb of Laurel, MD and Baltimore suburb of Glen Burnie, MD.
Extensive capital improvements are planned at both properties, targeting reductions in utility usage, correction of deferred maintenance, and select upgrades to in-unit kitchen and bathroom finishes.
The local operating partner, Urban Investment Partners, is a specialist in the renovation and repositioning of older apartment properties and offers extensive experience in all aspects of construction and property management.
The institutional financial partner is a highly sophisticated affiliate of a global insurance and investment organization.