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Milford Station in Pikesville, Maryland
FinanceMarylandNewsNortheast

Colliers Secures $24.5 Million Refinancing for Milford Station in Suburban Baltimore

by Channing Hamilton

PIKESVILLE, MD. — Colliers has secured a $24.5 million loan for the refinancing of Milford Station, a 199-unit community located at 19 Warren Park Drive in Pikesville, approximately 15 miles northwest of Baltimore. The community features amenities such as a pool, laundry facilities, controlled building access, playground, picnic area and complimentary parking, according to Apartments.com. Bob Beckman of Colliers arranged the non-recourse loan, which features a 30-year term and fixed interest rate of 5.1 percent. Gelfund RE Opportunities and GY Properties were the borrowers.

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Investment SalesMarylandNewsNortheast

Marcus & Millichap Brokers $6.3 Million Sale of JSB Apartments Near Washington, D.C.

by Channing Hamilton

WALDORF, MD. — Marcus & Millichap has arranged the $6.3 million sale of JSB Apartments, a 48-unit community located in Waldorf, approximately 30 miles south of Washington, D.C. JSB Apartments features one-bedroom units. The property is situated adjacent to Waldorf Station, a 150-acre mixed-use development that will include a grocery store, fitness facility and retail space. Marty Zupancic and Ryan Murray of Marcus & Millichap represented the seller, RGB Holding, in the transaction. The buyer was not disclosed.

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4909 Auburn in Bethesda, Maryland
DevelopmentLeasing & MarketingMarylandNewsNortheast

Willow Bridge Property Co. Begins Leasing 11-Story 4909 Auburn in Bethesda, Maryland

by Channing Hamilton

BETHESDA, MD. — Willow Bridge Property Co. has begun leasing 4909 Auburn, an 11-story residential tower that is approaching completion in the Woodmont Triangle neighborhood of Bethesda. The community will offer 167 apartments in studio, one- and two-bedroom floor plans. Units will range from 364 to 1,333 square feet. Planned amenities include a fitness center and yoga studio, steam and sauna rooms, pet spa and a parking garage with electric vehicle charging stations. Residents will also have access to a rooftop terrace with a TV and grilling area, common and …

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FinanceInvestment SalesMarylandNewsNortheast

Greystone, Cushman & Wakefield Broker $73.5 Million Sale of Two-Property Portfolio in Baltimore

by Channing Hamilton

BALTIMORE — Greystone and Cushman & Wakefield have jointly arranged the sale of and acquisition financing for a two-property portfolio in the Columbia suburb of Baltimore, Maryland. Olivetree Management purchased the assets for $73.5 million. The communities, Columbia Apartments and Town Center Apartments, comprise 344 units together. Both properties were 94 percent occupied at the time of sale. The transaction was financed with Fannie Mae loans totaling $57 million. Dan Sacks and Alex Basile of Greystone originated the Fannie Mae Delegated Underwriting & Servicing loans. Jorge Rosa and Anthony Liberto of Cushman & …

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Investment SalesMarylandNewsNortheast

Walker & Dunlop Adds Three to Midwest Investment Sales Team

by Channing Hamilton

BETHESDA, MD. — Walker & Dunlop has added three new employees to its Midwest Investment Sales team in Bethesda. Steve LaMotte and Dane Wilson joined the firm as managing directors, while Ross Wettersten joined as an associate director. The new team joins Walker & Dunlop with over 50 years of combined experience. The team will represent institutional and private clients across the Midwest, specializing in the valuation and disposition of multifamily properties.

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Parcel H in North Bethesda, Maryland
DevelopmentMarylandNewsNortheast

JLL Capital Markets Arranges $92.3 Million to Construct Parcel H in North Bethesda, Maryland

by Channing Hamilton

NORTH BETHESDA, MD. — JLL Capital Markets has arranged a $92.3 million loan to construct a 354-unit, 12-story project in the Washington, D.C. suburb of North Bethesda. The development is dubbed Parcel H and is located at at 5400 McGrath Blvd. Jon Mikula, Jim Cadranell, Jamie Leachman and Ryan Carroll of JLL Capital Markets arranged the four-year, floating-rate loan through SMBC on behalf of the borrower, LCOR. Upon completion, the community will offer one-, two- and three-bedroom units, as well as nine penthouse units. Units average 881 square feet in …

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Sligo Apartments in Silver Spring, Maryland
Affordable HousingDevelopmentMarylandNewsNortheast

Green Street Housing, TM Associates Development to Break Ground on Affordable Housing Community in Silver Spring, Maryland

by Channing Hamilton

SILVER SPRING, MD. — Green Street Housing and TM Associates Development have broken ground on Sligo Apartments, an affordable housing development in Silver Spring. All 102 units at the community will be available at restricted rents. The project is financed through a Low Income Housing Tax Credit (LIHTC) investment from Hudson Housing Capital and Capital One, who is also providing the permanent debt financing, as well as loans from the Maryland Department of Housing and Community Development. 

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The Pearl in Downtown Silver Spring, Maryland
FinanceMarylandNewsNortheast

PGIM Provides $188 Million Refinancing for Five-Property Portfolio in Downtown Silver Spring, Maryland

by Channing Hamilton

SILVER SPRING, MD. — PGIM Real Estate has provided a $188 million loan for The Blairs, a five-property portfolio in downtown Silver Spring. The borrower, Tower Cos., will use the fixed-rate loan to refinance the portfolio, which comprises The Pearl, Blair Towns, Blair House, Blair East and Blair Plaza. The five properties are located within a master-planned community that Tower Cos. owns, and offer 1,396 units altogether. According to PGIM, The Blairs was the first residential campus to receive the LEED Gold certification for operations and maintenance.

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Falkland Chase in Silver Spring, Maryland
Affordable HousingDevelopmentMarylandNewsNortheast

APAH Plans $39.6 Million Redevelopment of Affordable Community in Silver Spring, Maryland

by Channing Hamilton

SILVER SPRING, MD. — Arlington Partnership for Affordable Housing (APAH) has purchased Falkland Chase, a garden-style community in Silver Spring, from JBG Smith. The property currently offers 170 units that are affordable to households earning between 60 and 65 percent of the area median income (AMI). APAH plans to redevelop the Falkland Chase in phases, with the first phase slated to break ground in 2026. At full build-out, the redevelopment will add 1,250 new units to the property. Units will come in one-, two- and three-bedroom layouts. Montgomery County provided …

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Bainbridge Market Commons in Frederick, Maryland
DevelopmentMarylandNewsNortheast

The Bainbridge Cos. Opens Bainbridge Market Commons in Frederick, Maryland 

by Channing Hamilton

FREDERICK, MD. — The Bainbridge Cos. has opened Bainbridge Market Commons, a 344-unit community in Frederick in western Maryland. Bainbridge Market Commons offers one, two, and three-bedroom apartments with stainless steel appliances, washers and dryers, plank flooring, ceiling fans, LED light fixtures and Wi-Fi smart thermostats. Amenities include a fitness center, co-working spaces, EV chargers, a dog park, outdoor playground, pool with cabanas, clubhouse and package room. The property is in the city’s Tech/Biotech Corridor, which The Bainbridge Cos. states is ranked in the top five for largest life science clusters in …

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