JAG Management to Manage Maryland Property
The company will run EDE, a 350-unit community in Frederick, Md.
JAG Management has inked its first management deal with Bethesda, Md.-based Goldstar Group to manage a property in Frederick, Md., in the western part of the state.
The community is known as EDE and comprises 350 units. The property is situated on a 24-acre infill parcel in the City of Frederick, Md. The property is JAG Management’s first in Frederick, which is located approximately 10 miles west of Baltimore. The management company is in the process of actively expanding its operations on the East Coast.
EDE has so far delivered its first residential building, with clubhouse amenities to be added. JAG Management operates properties in eight states and Washington, D.C.
The property is the first apartment community to be located near Frederick’s downtown, which is a key differentiator for prospective residents when compared to other area properties, the management company said in a statement.
Yardi Matrix data from May shows that East Frederick has 19 communities, totaling 2,479 apartment homes with the average rent $1,915 and an overall 97.2% occupancy rate, the fourth highest among 63 submarkets listed. There are 447 units projected to be added in 2024.
