Mid-Atlantic
Klein Enterprises Announces Washington, DC Development
Construction is slated to begin in early 2023.
Quantum Equities Lands $60M Acquisition Loan
Quantum acquired the community in a Washington, D.C., suburb with financing provided by Greystone.
Compatriot Capital Takes Stake in Silverstone Senior Living
The two firms were working on three Washington, D.C. senior housing projects before the equity interest acquisition.
Tazewell Sells Virginia Apartment Building for $15M
The community is located in the center of downtown Roanoke.
Nuveen JV Preserves Affordability in D.C.
In a gentrifying neighborhood, this 75-year-old community offers longtime residents the chance to plant roots.
Howard University to Develop Mixed-Use Building Near Campus
The project in Washington, D.C.’s Shaw neighborhood will include as many as 500 units.
Bonaventure Acquires Virginia Luxury Communities
The luxury communities are located near the center of growing Hampton Roads market.
PRG Completes $45.5M Sale of Norfolk Property
Fannie Mae provided part of the acquisition financing for the Heather Lake community.
Gilbane Development Completes 978-Bed Student Property
The fully furbished community serves the University of Maryland.
Baltimore Multifamily Report – August 2022
Baltimore’s multifamily market posted moderate performance amid rising interest rates and a declining population. The average rent reached $1,664, up 0.8 percent on a trailing three-month basis through June, picking up after two quarters of sluggish increases. The rate remains just below the $1,706 U.S. figure. READ THE FULL YARDI MATRIX REPORT Baltimore’s economy is still lagging pre-pandemic levels of employment, but is making strides nonetheless. Job growth was at 4.1 percent —60 basis points behind the U.S. average—with 71,700 positions added in the 12 months ending in May. The unemployment rate clocked in at 3.6 percent as of May,…