Cushman & Wakefield’s Mid-Atlantic Multifamily Advisory Group is pleased to present The Centerpoint Tower (“The Property”), in Baltimore, MD. The property is in a prime area of downtown Baltimore, within an opportunity zone, and proximate to the largest demand drivers in the city. The Centerpoint Tower totals 221- units and is comprised of a 2005 built apartment asset and a 406 space structured parking garage which is included in the offering. The Centerpoint Tower offers investors significant value-add upside through the renovation of unit interiors and additional expense efficiencies with a modernization of the property’s utility system. The property’s location, modern unit design and stunning downtown views make it highly desirable from a rental standpoint, but rents lag the overall market and nearby Class A competitors. Renovating unit interiors will allow a new investor to increase rents and still be attractively priced relative to competing properties. The Property is located within walking distance to Baltimore’s Central Business District’s main commercial corridor (Pratt Street) and in proximity to one of the city’s largest employers, University of Maryland Medical Center, which provides consistent tenant demand. The Centerpoint Tower presents a rare opportunity to acquire a first generation value add asset with operational upside in the path of growth proximate to downtown Baltimore’s largest demand drivers.
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