592-Unit Baltimore Community Changes Hands
- Nov 17, 2015
A 592-unit, 32-building apartment community has changed owners in Baltimore in a $28.4 million transaction.
Represented by Transwestern, Kodiak Properties of Bethesda, Md. has parted ways with Three Garden Village, a one- and two-bedroom multifamily community close to downtown Baltimore. The asset, located at 7003 Dunmanway between Dundalk Avenue and Merritt Boulevard, sold to New York City-based SilverBrick Group LLC. Kodiak was represented in the transaction by Dean Sigmon, Robin Williams and Justin Shay of Transwestern’s Mid-Atlantic Multifamily Group.
“The strength of the Baltimore economy, along with the significant value-add opportunity through efficient property management and renovations, was a major draw for investors,” said Shay in a statement.
Three Garden Village is conveniently located close to downtown Baltimore and major employers such as Johns Hopkins Bayview Medical Center, Amazon Fulfillment Center, as well as the Port of Baltimore’s Dundalk Marine and Seagrit Marine terminals. The community also offers easy access to interstates 95, 895 and 695. Amenities include 28 laundry facilities, stand-alone rental office, and high speed Internet access, according to data collected by Yardi Matrix.
Photo courtesy of Transwestern