Capitol Seniors Housing opened the 84-unit assisted living and memory care community in the heart of Anne Arundel County. The Arbor Co. will operate the 72,140-square-foot facility.
Delivered in 2006, the 102-unit Victoria Park at Edgewater in Anne Arundel County traded for a little over $11.3 million.
Despite a cycle peak in new apartment developments last year, demand remained strong, maintaining occupancy within a relatively tight range.
The buyer, Geller Associates, opted to finance the acquisition under Fannie Mae’s Green Rewards program and will implement energy and water saving measures.
Anne Angel has more than 30 years of experience in business and real estate. In her new role, she will oversee leasing and marketing activities.
An out-of-state investor acquired Preston Place, a 10-unit property in the Mt. Vernon neighborhood, as part of a 1031 Exchange.
Built in 2016, The James is situated in Annapolis, one of the region’s most desirable rental markets.
The firm acquired the 54-unit Class B community in Glen Burnie, Md., for more than $7 million, using a $6.1 million acquisition loan.
The buyer financed the roughly $14 million purchase of the 321-unit fully affordable community with a $14 million acquisition and development loan.
Once completed, the Center\West project will have 2,853 apartment units, 20 percent of which will be set aside for workforce housing.