Maryland

The-Foundry-Frederick
Build-to-RentCompany NewsLeasing & MarketingMarylandNewsNortheastOperations

JAG Tapped to Manage The Foundry at Renn Quarter in Frederick, Maryland

by Lynn Peisner

FREDERICK, MD. — JAG Management Co. has been selected by Couloir Ventures to manage the build-to-rent (BTR) townhome community The Foundry at Renn Quarter in Frederick. Couloir is a Bethesda, Maryland-based developer focused on building BTR projects in the metro Washington, D.C., area. JAG Management provides property management services for both Jefferson Apartment Group (JAG)-owned assets as well as third-party-owned communities on the East Coast. JAG is headquartered in McLean, Virginia. A portion of the residences at The Foundry at Renn Quarter are now complete, and residents have begun moving …

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Lindley-HOC
Affordable HousingDevelopmentFeaturesFinanceMarylandNortheast

How a Maryland Housing Authority is Using Transparency to Expand Affordable Housing and Resident Services

by Lynn Peisner

By Chelsea Andrews Across the country, demand for affordable housing continues to rise, placing increased pressure on housing authorities to provide shelter and resources for our most vulnerable neighbors. Taxpayers want transparency when it comes to how their dollars are being used in the community. Private partners seek evidence of momentum, clear direction and follow-through. Government stakeholders require clarity and accountability when allocating local, county and federal funds leveraged for housing. Across all audiences, there is a shared need for a clear understanding of what’s working and where gaps remain. …

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White-Marsh-Perry-Hall
Investment SalesMarylandNewsNortheast

Rose Valley Capital Acquires The Crossings at White Marsh in Metro Baltimore

by Lynn Peisner

PERRY HALL, MD. — Rose Valley Capital has acquired The Crossings at White Marsh Apartments in Perry Hall, 12 miles northeast of Baltimore. The Brooklyn-based owner-operator’s in-house management firm, Rose Valley Management, will be the property manager. The seller and sales price were not disclosed. The Crossing at White Marsh is comprised of 396 one- and two-bedroom units and amenities such as two resort-style pools, a cyber lounge and electric vehicle charging stations.

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the-reed-rockville
Investment SalesMarylandNewsNortheast

Comstock Acquires The Reed in Rockville, Maryland

by Lynn Peisner

ROCKVILLE, MD. — Comstock Holding Cos. and Benefit Street Partners have acquired The Reed, a 417-unit community adjacent to the Shady Grove Metro Station in Rockville. Two Comstock subsidiaries, CHCI Residential Management and ParkX Management, will provide property management services. NewPoint Real Estate Capital arranged an undisclosed amount of equity as well as Freddie Mac financing for the buyers. Reston, Virginia-based Comstock is an investor, developer and operator focused on mixed-use and transit-oriented assets in the Washington, D.C., metro area. The acquisition of The Reed expands Comstock’s footprint in the …

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The-Worthington-Pikesville
FinanceInvestment SalesMarylandNewsNortheast

Walker & Dunlop Arranges $75M Acquisition Loan for Metro Baltimore Property

by Lynn Peisner

PIKESVILLE, MD. — Walker & Dunlop has arranged a $75 million agency loan for the acquisition of The Worthington Apartments in the northwest Baltimore suburb of Pikesville. Locally based Quest Management Group was the buyer/borrower. The 612-unit garden-style community is situated on approximately 38 acres. The site is comprised of 29 buildings, four garages, a clubhouse, a pool house and a maintenance facility. Walker & Dunlop’s Jonathan Zilber and Joel Chetner arranged the 10-year, fixed-rate nonrecourse loan.

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Allure-Suitland
FinanceInvestment SalesMarylandNewsNortheast

Colliers Arranges $232.7M in Financing for Maryland Acquisition

by Lynn Peisner

LARGO AND SUITLAND, MD. — Colliers’ Debt & Structured Finance has arranged $232.7 million in acquisition financing for a three-property, 1,225-unit portfolio located in Prince George’s County, Maryland. The portfolio, which was acquired by 29th Street Capital and Willton Investment Management, consists of Allure Apollo, Aspire Apollo and Ascend Apollo. The transaction involved the reassignment of existing tax increment financing (TIF) agreements associated with the Allure and Aspire properties, which are adjacent communities in Suitland.  Ascend is in Largo, about 10 miles southwest.

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Belvedere-Place-Baltimore
Affordable HousingDevelopmentFinanceMarylandNewsNortheast

WinnDevelopment Begins Construction of $44 Million Affordable Housing Community in Baltimore

by Lynn Peisner

BALTIMORE — WinnDevelopment, along with nonprofit partners BRIDGES Community Development Corp. and Bon Secours Unity Properties, have secured financing for the $44 million Residences at Belvedere Place in northwest Baltimore. The development includes 83 units of affordable housing as well as 8,442 square feet of commercial space. Financing partners for the project include the Maryland Department of Housing & Community Development (MD-DHCD), which delivered Low-Income Housing Tax Credits (LIHTC), tax-exempt bond financing and a subordinate loan; the City of Baltimore, which provided additional gap financing; Bank of America, which is …

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Affordable HousingCompany NewsFinanceMarylandNew YorkNewsNortheast

Walker & Dunlop, Pretium Launch Affordable Housing Bridge Lending Venture

by Lynn Peisner

BETHESDA, MD., NEW YORK CITY — Walker & Dunlop and Pretium have launched a $250 million joint venture to provide financing for affordable housing. The new group, known as Walker & Dunlop Affordable Bridge Capital, will originate flexible, short-term first-mortgage bridge loans for properties that are being acquired, refinanced or prepared for long-term government programs such as LIHTC, Section 8 or tax-exempt bonds. The joint venture will offer flexible, interest-only bridge financing with loan sizes ranging from $10 million to $75 million and terms between six and 36 months.

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The-Bellevue-Hyattsville
DevelopmentMarylandNewsNortheastOperationsWashington, D.C.

EJF Capital Completes The Bellevue in Hyattsville, Maryland

by Lynn Peisner

HYATTSVILLE, MD. — EJF Capital has completed construction of The Bellevue, a 361-unit community in Hyattsville, about 7 miles northwest of Washington, D.C. The Opportunity Zone project was developed in partnership with The NRP Group. The Bellevue features studios, one-, two- and three-bedroom floor plans. Amenities include a fitness center, a coworking lounge, landscaped courtyards and structured parking.

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Woodbury-Park-Arlington
Affordable HousingMarylandNewsNortheastOperationsWashington, D.C.

CAPREIT Tapped to Manage 21 Mid-Atlantic Affordable Housing Properties

by Lynn Peisner

BETHESDA, MD. — CAPREIT has been selected by Affordable Homes & Communities (AHC) to manage 21 properties, comprised of 3,019 units, in Maryland, Virginia and Washington, D.C. AHC is a developer of affordable and mixed-income communities. Bethesda-based CAPREIT owns and operates approximately 14,000 units of its own and is actively growing its third-party management business, according to a statement from the company.

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