Maryland

The Residences at Milestone
DevelopmentMarylandNewsNortheast

Partnership Breaks Ground on 182-Unit Project in Jessup, Maryland

by Channing Hamilton

JESSUP, MD. — Soto Architecture & Urban Design, in partnership with Varsity Investment Group, has broken ground on The Residences at Milestone, a 182-unit project in Jessup, just over 15 miles southwest of Baltimore. The project will feature two mid-rise buildings with 103 apartments and 79 three-bedroom townhomes on a 12.2-acre site. Apartments will come in studio and one-bedroom configurations. Townhomes will come in three-bedroom layouts and will feature private garages for added convenience.  The property will feature a 5,000-square-foot clubhouse with a gymnasium, multipurpose community room, pet spa and gathering …

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Investment SalesMarylandNewsNortheast

CAPREIT Acquires Two Communities in Waldorf, Maryland

by Channing Hamilton

WALDORF, MD. — North Bethesda, Maryland-based CAPREIT has acquired two properties in Walforf, roughly 30 miles southeast of Washington, D.C. The two communities, Palmer Apartments and Smallwood Gardens, total 360 units. Located at 3008 Pilgrims Square, Palmer Apartments was originally constructed in 1980 and consists of 152 apartments. Units come in one- and two-bedroom floor plans. Rents start at $1,662 per month for a one-bedroom residence, according to Apartments.com. Smallwood Gardens, formerly known as Smallwood Gardens at Village Center of St. Charles, is situated at 2640 Hamilton Place. Originally built in 1976, …

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FinanceMarylandNewsNortheast

Pealmark Provides Financing for 311-Unit Property in Hanover, Maryland

by Channing Hamilton

HANOVER, MD. — Pearlmark has provided a mezzanine loan for the refinancing of Bristol Court Apartments, a 311-unit asset in Hanover, roughly 12 miles south of Baltimore. Located within the Oxford Square planned community near the Dorsey MARC passenger rail station, Bristol Court offers one-, two- and three-bedroom apartments. Residents have access to amenities such as a pool, fitness center, yoga studio, lobby with coworking spaces and a clubroom with an entertainment kitchen and fireplace. Additional amenities include a library, lounge with a pool table, pet spa, foosball and shuffleboard, …

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Holly Oaks
Investment SalesMarylandNewsNortheast

Kislak Brokers $15.9 Million Sale of Property in Aberdeen, Maryland

by Channing Hamilton

ABERDEEN, MD. — The Kislak Co. Inc., a Woodbridge, New Jersey-based brokerage firm, has arranged the sale of Holly Oaks in Aberdeen, about 31 miles northeast of Baltimore. Built in 2023, the garden-style community consists of five buildings with 12 units in each building. Holly Oaks offers two- and three-bedroom apartments that range from 1,100 to 1,400 square feet. All units feature a patio or balcony, washers and dryers and walk-in closets. Barry Waisbrod and Matt Wolf of Kislak marketed the property. Robert Holland procured the undisclosed New Jersey-based buyer, …

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8001 Woodmont in Bethesda, Maryland
Investment SalesMarylandNewsNortheast

Peterson Cos. Buys 8001 Woodmont in Bethesda, Maryland, for $194 Million

by Channing Hamilton

BETHESDA, MD. — Fairfax, Virginia-based developer Peterson Cos. has purchased 8001 Woodmont, a 322-unit community in Bethesda, about seven miles north of Washington, D.C. JBG Smith Properties sold the property for $194 million. Robert Jenkins, Bret Thompson and Andrew Gemma of JLL Capital Markets represented the seller in the deal.  Delivered in 2021, 8001 Woodmont offers a mix of one-, two- and three-bedroom floor plans. Residents have access to amenities such as a fitness center, rooftop terrace, outdoor pool and concierge services. The property also includes 19,452 square feet of …

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The Current at Watershed in Laurel, Maryland
Build-to-RentInvestment SalesMarylandNewsNortheast

Berman Enterprises Purchases Build-to-Rent Community in Laurel, Maryland, for $54 Million

by Channing Hamilton

LAUREL, MD. — Rockville, Maryland-based Berman Enterprises has purchased The Current at Watershed, a build-to-rent asset located at 3101 Runnel Lane in Laurel, roughly midway between Baltimore and Washington, D.C. Bethesda, Maryland-based Couloir Ventures sold the community to Berman Enterprises for $54 million. Ari Azarbarzin, Chris Doerr, Jack Brocato, Will Harvey, Shack Stanwick, Wallace Halpert and Anthony Pino of Northmarq represented the seller in the deal. Built in 2023, The Current at Watershed offers 97 three-bedroom townhomes. The average unit size is 1,407 square feet. Each residence features quartz countertops, stainless …

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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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