DEAL OF THE DAY: Investor Snags Newly Built Baltimore Area Asset

Creekside Apartments, courtesy TGM Associates.

Glen Burnie, Md.—After selling an Albuquerque community earlier this month, TGM Associates is back on the buying side of the equation. The New York-based multifamily investor announced yesterday afternoon that it has grabbed a 208-unit luxury community in Glen Burnie, Md. The asset, now known as TGM Creekside Village, was built in 2014 and features a stand-alone LEED Silver clubhouse that includes a 24-hour fitness center, café lounge, computer bar, outdoor pool, fire pit and outdoor kitchen.

Creekside Apartments, Courtesy TGM Associates.

“We are very excited to bring TGM Creekside Village into our multifamily portfolio. Creekside’s location in Glen Burnie offers its residents convenient access to the major employment centers within the Baltimore-Washington corridor, which is a steadily expanding area,” said Zach Goldman, managing principal and director of operations for TGM Associates.

The asset features one-, two- and three-bedroom units that average 1,000 square feet in size. Roughly half of the apartments have granite countertops and tile backsplashes. TGM Creekside Village was also recently recognized by the Baltimore Metro chapter of the Associated Builders and Contractors Inc. with the award for Excellence in Construction in the category of a new project over $10 million.