Riparian Capital Partners Secures $55M for Two SFR Portfolios in Baltimore

Chevy Chase, MD-based Riparian Capital Partners has secured $54.7 million in financing for two portfolios encompassing 461 single-family rental units in Baltimore, MD.

The financing was arranged by Eastern Union’s David Merkin and provided through Roc Capital. Both the acquisition and the refinancing carried five-year terms.

According to Riparian, the underlying portfolios (acquired in October 2020 and December 2021 with representation from Ari Azarbarzin of Cushman & Wakefield) are located in long-term, stable workforce communities in Baltimore with a focus on renters utilizing Section 8 and similar voucher programs.

“Single-family rentals have emerged as one of the fastest-growing asset categories in today’s commercial real estate marketplace,” said Kristoffer Garin, principal and CEO of Riparian Capital Partners. “However, to date, capital allocators in the sector have overwhelmingly focused on higher-end locations and newer properties, making the workforce housing segment a compelling opportunity for operators with the capabilities and resources to capture higher yields while delivering an institutional-grade execution.”