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The Cushman & Wakefield Baltimore Single-Family Advisory Group is pleased to present The Belair-Edison Portfolio located in Baltimore, MD. The Offering is comprised of 20 single-family rental units in Northeast Baltimore with centralized management operations. The Portfolio is well positioned for a value-add business plan executing a leasing strategy to attract renters receiving housing vouchers and rental subsidies.

Currently less than 10% of the residents receive rental assitance and rent increases have remained relatively flat over the past 18 months. The opportunity exists to increase rents as much as 20%-25% with minimal capital expenditure, while actively leasing to residents receiving rental vouchers. Single-Family Rentals offer high yields and strong occupancy rates. High-Performance Metrics for Single-Family Rentals include a 99% occupancy rate, 8.5% annualized vacant-to-occupied (V2O), an increase of 5x the 2020 Rate. Baltimore City Housing Voucher Rents consistently outperform comparable market rate levels.

The Majority of the Homes have received modest capital improvements including new rooves, windows, mechanicals, and electrical systems. Other important enhancements include the installation of in-home washer/dryers, central air conditioning, dishwashers, modern appliances, and upgraded kitchen and bathroom finishes.

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The Belair-Edison SFR Portfolio
20 Units
3010 Brendan Avenue
Baltimore, MD  21213
Type: Single Family Rental
Closed: 7/20/2022

The Cushman and Wakefield Mid-Atlantic Multifamily Advisory Group is pleased to present The Washington Square Apartments, a demonstrated value-add opportunity just 15 minutes from Downtown Philadelphia. Located in Prospect Park, PA, the 30-unit apartment community is perfectly suited for a business plan focused on making substantial rent increases while substantially reducing operating expenses. Washington Square is in excellent condition as The Property has been meticulously maintained through several decades of continuous ownership and regular capital expenditures. Further value can be created through the cosmetic renovation of existing kitchens and bathrooms, adding modern tasteful finishes, and achieving an attractive ROI. Income can also be bolstered through streamlining management expenses and increasing operational efficiency. Rents at the Property trail surrounding comparables of similar vintage by 40%-60%.

Thanks to its affordability and its growing, healthcare-driven economy, Philadelphia has long been known as one of the most stable major apartment markets., with trailing 12-month asking rent growth running at an impressive 9.3% in the fourth quarter of 2021. Suburban apartment performance continues to rise, with many employers allowing their workers to work remotely, Suburban Philadelphia rent growth is forecasted to post a 10% year over year gain, compared to a 4% increase in 2020.

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Washington Square
30 Units
821 Washington Avenue
Prospect Park, PA  19076
Type: Conventional
Closed: 7/20/2022
Cushman & Wakefield’s Mid-Atlantic Multifamily Advisory Group is pleased to present The Pointe at County Crossing (The Property), a 466 -unit townhome community with proven value-add potential in Baltimore, MD. The Pointe at County Crossing presents the opportunity to acquire immediate scale in one of the Mid-Atlantic’s highest performing apartment markets. The Baltimore market has been an outperformer with low vacancy and accelerated rent growth over the last twelve months with this trend projected to continue. The Property is perfectly positioned to take advantage of these lofty apartment fundamentals due to its dynamic Harford County location, within the high growth I-95 Industrial corridor. The Property is currently 95% occupied and has proven upside with renovated unit garnering rent increases up to $175. The opportunity exists to renovate the remaining 66% of units (307 total units) to achieve similar or increased premiums based on rents for renovated units in the immediate competitive set. The Pointe at County Crossing presents a unique opportunity to acquire a large-scale asset with proven value-add upside in Baltimore, MD, one of the Mid-Atlantic’s best multifamily markets.
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The Pointe at County Crossing
466 Units
311 Trimble Road
Joppa, MD  21085
Type: Conventional
Closed: 6/1/2022

The Cushman & Wakefield Mid-Atlantic Multifamily Advisory Group is pleased to present the exclusive listing of The Apartments at 2920 located at 2920 Saint Paul Street Baltimore, MD 21218. Positioned between East 29th and 30th Streets, The Property offers rare proximity to Johns Hopkins University. The Institution enrolls more than 24,000 students and employs approximately 25,000 workers, distinguishing itself as the largest employer in Baltimore City.

Additionally, future ownership has the option to convert this conventionally leased multifamily asset into a rent-per-bed leasing Property, catering to undergraduate, graduate students, and young professionals. The Apartments at 2920 are well-suited for a light value-add kitchen and bathroom refreshes. Suggested interior unit improvements include granite countertops, stainless steel appliances and repainting kitchen cabinets.

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The Apartments at 2920
7 Units
2920 Saint Paul Street
Baltimore, MD  21218
Type: Conventional
Closed: 5/13/2022

The Property is being offered for sale in conjunction with our partners at Ten-X

The Cushman Wakefield Baltimore Capital Markets Group is pleased to present the exclusive listing of 8517 Loch Raven Boulevard located in Towson, MD. The First Two Floors total 4,500 square feet, while the top floor is approximately 2,000 square feet. The first and second floors are primarily medical and office suites, while the basement has a laboratory and medical device manufacturing capabilities. Prior to Maryland Orthotics and Prosthetics, the basement was subdivided into individual offices. The Property was last occupied by Maryland Prosthetics and Orthotics, and prior to their tenure, MONY Life Insurance Company of America. 8517 Loch Raven Boulevard is viable for several uses including office, medical office, and or even a dispensary. Within a 5-mile radius of the Property, the average household income is $102,221, 15 % higher than the Maryland Average, and 70% of residents in the same radius hold a greater than a high school level of education, 8% higher than the Maryland Average.

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8517 Loch Raven Boulevard
   
8517 Loch Raven Boulevard
Towson, MD  21286
Closed: 5/12/2022

The Cushman & Wakefield Mid-Atlantic Single-Family Advisory Group is pleased to present the exclusive listing of the Canterbury Single-Family Portfolio. The Portfolio offers future ownership the rare opportunity to acquire 52 Single-Family Rentals which have been renovated to premium levels with highly coveted interior amenities. These features include in-unit washer/dryers, granite countertops, backsplashes, updated cabinets, stainless steel appliances, modern bathrooms and new hardwood floors and carpeting. All of the homes are lead-free, and feature new mechanicals and roofs, as future ownership will enjoy virtually no deferred maintenance.

Single-Family Rentals have emerged as one of the most attractive asset classes to both institutional and private investors, with high yields and robust resident demand. Nearly all of the residents receive Baltimore City Section 8 Vouchers, providing stable, guaranteed income, with consistent gradual rent increases. A large cluster of the units are within a short distance of Johns Hopkins University and Johns Hopkins Hospital, two of Baltimore's Largest Regional Employers.

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Canterbury Single-Family Rental Portfolio
52 Units
Various
Baltimore, MD  21214
Type: Single Family Rental
Closed: 3/8/2022

The Cushman & Wakefield Mid-Atlantic Multifamily Advisory Group is pleased to present the exclusive listing of Oliver Street Lofts, in Station North. The Property offers future ownership the rare opportunity to acquire a mixed-use redevelopment project in immediate proximity to Baltimore's Penn Station. Oliver Street Lofts was originally the site of the former Crown Shade Factory, which was converted 20 years ago into a mixed-use community with industrial, office, artist, and residential space. With 10-30-foot ceilings, large floor plans, a functioning elevator, ample natural light, and distinct industrial finishes and features, Oliver Street Lofts is poised to attract a sophisticated and urbane renter.

Baltimore's Penn Station is set to undergo a $90 Million Renovation later this year. The improvements will include refurbishing the more than 100-year-old "Head House" building a glass-walled passenger concourse, adding space for shops, eateries and offices, and constructing a new high-speed rail platform. Residents are able to commute door to door from Oliver Street Lofts to Washington D.C. in less than 70 minutes.

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Oliver Street Lofts
41 Units
405-417 Oliver Street
Baltimore, MD  21202
Type: Conventional
Closed: 3/7/2022

The Cushman & Wakefield Mid-Atlantic Single-Family Advisory Group is pleased to present the exclusive listing of the Turin Single-Family Portfolio. The Portfolio offers future ownership the rare opportunity to acquire 32 Single-Family Rentals with value-add potential to raise rents.

Single-Family Rentals have emerged as one of the most attractive asset classes to both institutional and private investors, with high yields and robust resident demand. Nearly all of the residents receive Baltimore City Section 8 Vouchers, providing stable, guaranteed income, with consistent gradual rent increases. A large cluster of the units are within a short distance of Johns Hopkins University and Johns Hopkins Hospital, two of Baltimore's Largest Regional Employers.

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Turin Single-Family Rental Portfolio
32 Units
Various
Baltimore, MD  21206
Type: Single Family Rental
Closed: 2/23/2022

The Cushman & Wakefield Mid-Atlantic Single-Family Advisory Group is pleased to present the exclusive listing of The Meribeth Portfolio in Baltimore, MD. The 11 Building/ 22 Unit portfolio of residential duplexes are all located within a 2-3 minute walk of one another along three streets: Chinquapin Parkway, Meridene Drive, and MacBeth Drive, allowing for streamlined management operations and efficient economies of scale. The offering consists of exclusively 2 Bedroom/1 Bathroom Units, with 2 self-contained residences in each building. Standard unit finishes include white appliances, new wooden cabinets, vinyl wood floors, formica countertops, and distinct backsplashes. All but 1 one of the 11 buildings have basement washer/dryers, with each unit containing individual heating, cooling, and electric.

While current ownership has invested in both mechanical and in-unit renovations the opportunity exists for additional light upgrades leading to $100-$150 rent increases. Suggested improvements involve a modest refresh of appliances, cabinets, and the hallways, eliminating the rent delta of $800-$950 for monthly rents across the portfolio, and leasing all units at rates of $950-$1,000.

The Portfolio affords residents outstanding access to the top employers, higher education, dining, shopping, and entertainment destinations in the area. In addition to Baltimore County’s government offices and four major regional hospitals, which employ 12,000 physicians, nurses, and other professionals combined, residents can also easily access Towson University, Goucher College, and Morgan State University. Furthermore, the Portfolio is proximate to Towson Town Center, one of the largest indoor shopping malls in the region, the Trader Joe’s-anchored Shops at Kenilworth, and the new Towson Row development, which boasts a 45,000 square foot Whole Foods.

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Meribeth Portfolio
22 Units
Various
Baltimore, MD  21239
Type: Conventional
Closed: 1/31/2022

The Cushman & Wakefield Mid-Atlantic Multifamily Advisory Group is pleased to present the exclusive listing of The Johns Hopkins Flats located at 3002 and 3026 Saint Paul Street Baltimore, MD 21218. While not contiguous, the 2 buildings and 13 units are located between East 30th and 31st Streets in rare proximity to Johns Hopkins University. The Institution enrolls more than 24,000 students and employs approximately 25,000 workers, distinguishing itself as the largest employer in Baltimore City.

Additionally, future ownership has the option to convert this conventionally leased multifamily asset into a rent-per-bed leasing model, catering to undergraduate, graduate students, and young professionals. The Properties are well-suited for light value-add kitchen and bathroom refreshes. Suggested interior unit improvements include granite countertops, stainless steel appliances and repainting kitchen cabinets.

The acquisition can be funded through the GSE Small-Balance Lending Program, which allows for higher-leverage non-recourse financing for loans of $1-$7.5Million.

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Johns Hopkins Flats
13 Units
3002 and 3026 Saint Paul Street
Baltimore, MD  21218
Type: Conventional
Closed: 1/10/2022

The Cushman & Wakefield Mid-Atlantic Multifamily Advisory Group is pleased to present The Alexander Brown Building 125 located at 125 East Baltimore Street. The Property currently sits vacant and offers developers the opportunity to acquire a boutique redevelopment site, in the high growth submarket of The Central Business District where rents have grown 10%+ over the past 12 months. The submarket is over supplied with Class A Luxury premium amenity apartments, creating a void for units catering to rent-by-necessity residents rather than lifestyle renters. Several nearby developments such as 22 Light Street will focus on smaller units with urbane modern interiors, but limited amenities, offering a quality living experience at affordable prices. Developers would be well-suited to follow this thesis at AB125.

The Property offers investors an active value-add opportunity via scalable redevelopment, with zoning allowing for a total of 60 Feet of Height by Right. C-5 Zoning allows favorable/flexible zoning with the potential highest and best use as Multifamily with a first-floor retail component. The Property is ideally positioned near major employers such as Truist (SunTrust Building), Wells Fargo Tower and is directly adjacent to M&T Bank's Regional Headquarters located at One Light Street, and home to 500 white-collar employees.

The asset presents rare opportunity for a buyer to acquire a historically significant, scalable redevelopment project in a Qualified Opportunity Zone which provides investors with an ideal opportunity to realize the substantial available tax savings offered by the QOZ program.

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Alex Brown Building
   
125 E. Baltimore Street
Baltimore, MD  21202
Type: Land
Closed: 1/6/2022
The Cushman & Wakefield Mid-Atlantic Single-Family Advisory Group is pleased to present the exclusive listing of the Hopkins East Single-Family Rental Portfolio. The Portfolio offers future ownership the rare opportunity to acquire a completely renovated Single-Family Rental Portfolio of Scale. Single-Family Rentals have emerged as one of the most attractive asset classes to both institutional and private investors, with high yields and robust resident demand. Nearly all of the units are within a short distance of Johns Hopkins University and Johns Hopkins Hospital, two of Baltimore's Largest Regional Employers. The homes feature feature In-Unit Washer/Dryers, Granite Countertops, Stainless Steel Appliances, Modern Bathrooms and New Flooring and Carpeting. Approximately 80% of the Residents receive rental subsidies, offering stable collections and long-term sustainable rent growth.
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Hopkins East Single-Family Rental Portfolio
217 Units
Various
Baltimore, MD  21218
Type: Single Family Rental
Closed: 12/22/2021
The Cushman & Wakefield Mid-Atlantic Single-Family Advisory Group is pleased to present the exclusive listing of the Route 40 Single-Family Portfolio featuring 31 Single-Family Rentals in Baltimore City. The Portfolio offers future ownership the rare opportunity to acquire a turnkey, gut renovated Single-Family Rental Portfolio with consistent net operating income, and an attractive cash on cash return. Single-Family Rentals have emerged as one of the most attractive asset classes to both institutional and private investors, with high yields and robust resident demand. The Route 40 Portfolio contains a high concentration of Properties in East and Northeast Baltimore. Home interiors feature In-Home Washer/Dryers, Upgraded Bathroom Vanities, Stainless Steel and/or Black Appliances and New Flooring and Carpeting. Nearly all of the residents benefit from government housing subsidies, creating stable, and steadily increasing rental revenue.
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Route 40 Single-Family Rental Portfolio
31 Units
Various
Baltimore, MD  21205
Type: Single Family Rental
Closed: 12/20/2021

Cushman & Wakefield’s Mid-Atlantic Multifamily Advisory Group is pleased to present the exclusive listing of Mount Vernon Place Apartments, located in the historic Baltimore City Neighborhood of Mount Vernon. The Property is well suited for a value-add business plan, while preserving the Property’s historic features and distinct Brownstone façade. The Property contains 8 residential units, ample storage space, and is impeccably located across from the Baltimore Washington Monument.

Investors are afforded a compelling value-add opportunity in the heart of one of Baltimore's most desirable residential enclaves. Asset Revenue can be improved both through kitchen and bathroom renovations, followed by rent increases and streamlining of management operations, as current rents trail market rents by as much as 30%. With 8-12-foot ceilings, ample natural light, hardwood floors, three private outdoor terraces and patios, and original historic details. The Mount Vernon Place Apartments attract a sophisticated urban renter, while lagging behind the rents of the highly amenitized rent comparables in the neighborhood.

Located in the historic Mount Vernon neighborhood this solidly fashionable and lively neighborhood feature a charming assortment of well-preserved 19th century architecture, elegant residences, and celebrated landmarks. While these neighborhoods have countless nods to the past, they have been modernized with a plethora of chic restaurants, bars, and shops. The Mount Vernon Place Apartments are in close proximity to Baltimore’s Penn Station which is set to undergo a $90 Million Renovation later this year. The Master Plan will include up to 1.6 Million Square Feet of hotel, office, retail and residential space. Residents of the Property are able to commute door to door from their residence to Downtown Washington D.C. in less than 70 minutes.

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Mount Vernon Place Apartments
8 Units
24 E. Mount Vernon Place
Baltimore, MD  21202
Type: Conventional
Closed: 12/1/2021

The Cushman & Wakefield Mid-Atlantic Multifamily Advisory Group is pleased to present the exclusive listing of Barrington Woods in Hampton, VA. Management has made significant capital improvements to the Property in the past three years, including new plumbing, several interior unit renovations, and select new HVAC installations. Barrington Woods offers investors a significant value-add opportunity in a high rent and job growth submarket, while capitalizing upon historically low interested rates. The property is being offered to an investor free and clear of debt. The 136-unit multifamily asset is less than 2.5 miles from Sentara Hospital, the second largest employer in Hampton Roads, with more than 20,000 employees in the region.

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Barrington Woods
136 Units
611 Michigan Drive
Hampton, VA  23669
Type: Conventional
Closed: 11/16/2021
The Cushman & Wakefield Baltimore Mid-Atlantic Multifamily Advisory Group is pleased to present the exclusive listing of the former Billig Building located at 16 E. Fayette Street in Baltimore, MD in the City’s Central Business District. The Mixed-Use Property has a vibrant ground floor retail tenant, and the second and third floors are leased to the adjacent property, The Junker Hotel. Future ownership has the rare and immediate opportunity to reposition the Property for a variety of uses including conventional multifamily, mixed-use, office senior housing, or medical outpatient facility. The Asset is in a Federal Opportunity Zone, and eligible for a Low-Income Housing Tax Credit (LIHTC) Conversion.
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16-18 E. Fayette Street
   
16-18 E. Fayette Street
Baltimore, MD  21202
Type: Land
Closed: 7/12/2021

The Cushman & Wakefield Mid-Atlantic Single-Family Advisory Group is pleased to present the exclusive listing of the I-695 Single-Family Portfolio. The Portfolio offers future ownership the rare opportunity to acquire a turnkey, gut renovated Single-Family Rental Portfolio with consistent net operating income, and an attractive cash on cash return. Single-Family Rentals have emerged as one of the most attractive asset classes to both institutional and private investors, with high yields and robust resident demand. The I-695 Single-Family Portfolio has a high concentration of Properties in Baltimore, Harford, and Anne Arundel Counties. Home interiors feature In-Unit Washer/Dryers, Granite Countertops, Stainless Steel and Black Appliances and New Flooring and Carpeting.

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I-695 Single Family Portfolio
66 Units
Various
Baltimore, MD  21229
Type: Single Family Rental
Closed: 6/25/2021
The Cushman & Wakefield Mid-Atlantic Multifamily Advisory Group is pleased to present the exclusivel listing of Pembroke Pines in Hampton, VA. Management has made significant capital improvements to the Property in the past two years, including new plumbing, several interior unit renovations, and select new HVAC installations. Pembroke Pines offers investors a significant value-add opportunity with proven rental increases after kitchen and bath upgrades, while increasing operational efficiency. The property is being offered to an investor free and clear of debt, or with the option for a loan assumption. The 42-unit multifamily asset is less than four miles from Sentara Hospital, the second largest employer in Hampton Roads, with more than 20,000 employees in the region.
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Pembroke Pines
42 Units
1625 W. Pembroke Avenue
Hampton, VA  23661
Type: Conventional
Closed: 6/16/2021