Baltimore Office

Cushman & Wakefield’s Mid-Atlantic Multifamily Advisory Group is pleased to present the exclusive listing of 517 S. Broadway, a residential development opportunity in the iconic Baltimore City Neighborhood of Fells Point. The Property is zoned both residential and commercial, boding well for multifamily or mixed-use contruction.

Potential developers are able to acquire land at an attractive cost basis, with approved plans. The Property is in close proximity to The Sagamore Pendry, and recently redeveloped Broadway Market, with ease of access to Thames Street nightlife attractions.

Cushman & Wakefield’s Mid-Atlantic Multifamily Advisory Group is pleased to present the exclusive listing of The Lofts @ 1521, located in the historic Baltimore City Neighborhood of Bolton Hill. The Property is well suited for a value-add business plan, while preserving the Property’s historic features. The Lofts @ 1521 contains 5 residential units and parking in the rear of the Property.

Investors are afforded a compelling opportunity to acquire an apartment building where 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.

The Property is 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 are able to commute door to door from their residence to Downtown Washington D.C. in less than 70 minutes.

The Cushman & Wakefield Mid-Atlantic Single-Family Advisory Group is pleased to present The Citadel Single-Family Portfolio located in Baltimore, MD. The Offering is comprised of 20 single-family rental units primarily 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. With average rents of almost $1,300 the opportunity exists to increase rents as much as $200-$300 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 Cushman & Wakefield Mid-Atlantic Multifamily Advisory Group is pleased to present the exclusive listing of The Linkwood Apartments located within Baltimore’s Tuscany-Canterbury neighborhood. The Property is well-placed, equidistant from Johns Hopkins University and Loyola University Maryland, while also adjacent to Roland Park and Guilford, Baltimore City’s two preeminent residential enclaves.

The Linkwood Apartments offer investors the compelling opportunity to acquire a light value-add garden-style apartment community that feature two-bedroom units, and communal amenities such as on-site parking and laundry. Further value can be created through the cosmetic renovation of existing kitchens and bathrooms. The opportunity exists to continue operating the community as conventional multifamily housing or converting the property to student housing. Additionally, all utilities are paid by the Property except for individual electric and select RUBS Billing. Effectuating the Rubs Program consistently throughout the community, as well as billing regularly for parking can bolster existing Net Operating Income.

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.

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.

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.

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.

Cushman & Wakefield’s Mid-Atlantic Multifamily Advisory Group was pleased to represent our client, in securing acquisition construction financing for The Fremont Apartments. Our team worked on behalf of the sponor to place new debt in partnership with a local community bank

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.

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.

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.

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.

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.

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.

Cushman & Wakefield’s Mid-Atlantic Multifamily Advisory Group was pleased to represent our client, in the refinance of 1504 Upshire Road. Our team worked on behalf of ownership to place new non-recourse debt, in the form of a Fannie Mae Small Balance Loan.

Cushman & Wakefield’s Mid-Atlantic Multifamily Advisory Group was pleased to represent our client, in the refinance of 9 E. Read Street. Our team worked on behalf of ownership to place new non-recourse debt, in the form of a Fannie Mae Small Balance Loan.

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.

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.