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Cushman & Wakefield’s Mid-Atlantic Multifamily Group is pleased to offer The Residences at Annapolis Junction, Maryland’s premier suburban Class AA asset. The Residences at Annapolis Junction, constructed in 2018 to LEED Gold certified, combines best-in-class, resort style amenities with top of market finishes in one of Maryland’s top investment markets, Howard County, Maryland. The asset is located in a transit oriented mixed-use town center with unique local retailers and office space providing a sense of place for residents that is rare among suburban assets in the Washington-Baltimore Corridor. The property is located at the doorstep of Maryland's largest employer, Ft. Meade and NSA, and within walking distance from the acclaimed National Business Park which features a high end network of government and contractor employment. This employment provides a consistent and affluent renter by choice which, coupled with The Residences at Annapolis Junctions Howard County address provides a competitive advantage relative to similar vintage competitors in nearby Anne Arundel and Prince George’s County. This has led to high growth, low vacancy property level fundamentals which have been consistently sustained since stabilization. The Residences at Annapolis Junction provides investors the ability to acquire a best in class asset adjacent to high end employment with significant competitive advantages in the prestigious Howard County jurisdiction of the Washington-Baltimore Corridor. The Property’s strong historical and current performance coupled with limited multifamily pipeline will allow for continued rental rate growth and asset appreciation.
The Residence Annapolis Junction
416 Units
10125 Junction Drive
Annapolis Junction, MD  20701
Type: Conventional
Posted: 4/13/2022
Cushman & Wakefield's Mid-Atlantic Multifamily Advisory Group is pleased to present The Residences at Waterstone, a rare opportunity to acquire a unique, proven value-add asset in the one of the Baltimore MSA's best suburbs. The Property, built in 2002, is a first-generation value-add investment with functional characteristics similar to newly constructed assets within the Baltimore MSA. The Property presents some of the largest floorplans in the market averaging 1,453 square feet with many featuring individual garages leading into units. The combination of drive-up garages, spacious floorplans, and institutional quality has allowed for rental increases of up to $260 on renovated units with 61% of the units still in Classic condition. Renovated units are upwards of $300+ below the market rents of neighboring competitive properties which can allow for addition rent premiums. Increased tenant demand is creating strong apartment market fundamentals with effective rent growth in the submarket of 12.8% YoY in Q4 2021 and vacancy of just 2.6%. The Property is perfectly positioned to take advantage of these lofty fundamentals and is currently 93% occupied. The Residences at Waterstones top-of-the-line community amenities, dynamic location, below market rents and proven value-add upside presents a rare opportunity to acquire suburban Baltimore's most unique apartment community.
Under Contract
The Residences at Waterstone
255 Units
225 Galvariun Court
Pikesville, MD  21208
Posted: 1/25/2022
The Fields at Rock Creek presents a rare opportunity to acquire a modern, functional, value-add asset in Frederick, MD. The Property’s location proximate to the region’s most trafficked accessways, I-270 and I-70, provides direct connectivity to the largest economic engines in the greater Washington and Baltimore MSA’s. Tremendous in-place employment there includes the I-270 Technology Corridor, Northern Virginia office market, and high-quality local employment in Frederick and Urbana which is leading to sustained demand from an affluent renter base. Additionally, the Frederick County Public School System creates a significant draw for younger renters who are looking for the unique combination of a top-tier education system at a relatively affordable cost of living. This increased demand is creating strong apartment market fundamentals with effective rent growth in the submarket of 15.2% YoY in Q4 2021 and vacancy of just 2.3%. The Property is perfectly positioned to take advantage of these lofty fundamentals and is currently 97% occupied with a proven value-add upside. Approximately 230 units have been renovated to achieve $150 premiums with 26% of the units (84 units) still in Classic condition. The opportunity exists for a new owner to renovate the remaining Classic units as well as upgrade the current renovation package to achieve premiums of $200+. The Fields at Rock Creek’s top-of-the-line community amenities, dynamic location and premier assigned schools is driving demand for an affluent renter by choice as evidenced by gross potential rent increasing 7.2% year-over-year 2021.
Under Contract
The Fields at Rock Creek
314 Units
100 Alessandra Ct
Frederick, MD  21702
Posted: 1/12/2022