Mid-Atlantic
Morgan Properties Acquires 4,130-Unit Portfolio
Metro Philadelphia’s largest-ever multifamily deal, the acquisition makes Morgan the largest owner-operator in the market.
Avanath Buys Maryland Senior Community
Delivered in 2006, the 102-unit Victoria Park at Edgewater in Anne Arundel County traded for a little over $11.3 million.
TGM Associates Buys 2nd Community in Manassas, VA
The company plans to implement a thorough renovation program to the community, including in-unit renovations and improvements to the common-area amenities.
Elion, Buchanan Partners Break Ground in Suburban D.C.
The 254-unit luxury community is slated for completion in 2020 and will feature a plethora of high-end amenities. The developer will seek to obtain National Green Building Standard certification.
Capital Square 1031 Completes VA Multifamily Purchase
The firm acquired Summit at Bon Air Apartments in a Richmond, Va., suburb through a Delaware statutory trust (DST) offering that was fully subscribed by 61 investors.
Hunt Arranges Refi for 2 VA Communities
The company secured the 10-year term Fannie Mae loans for Fay Street and Fort Colliers. The properties total 150 apartments and are located in Winchester.
Blackfin, GMF Acquire 600-Unit Community in Virginia Beach, VA
The value-add acquisition of Baker Crossing marks the companies’ first partnership. The property last changed hands in 2005 for $31.5 million.
JV Acquires MD Community for $43M
The Donaldson Group, Declaration Capital and Angelo, Gordon & Co. purchased the 288-unit Plaza Towers in Hyattsville. The new owners will implement a capital improvement plan to modernize the property.
Pollack Shores Enters Mid-Atlantic Market
The company acquired The Flats at West Broad Village, a 339-unit apartment community in Glen Allen, roughly 15 miles from Richmond, Va.
Baltimore Multifamily Report – Winter 2019
Despite a cycle peak in new apartment developments last year, demand remained strong, maintaining occupancy within a relatively tight range.