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77-Unit Baltimore Apt Community Sold for $10M
Prescott Square Apartments, a 77-unit garden community in Pikesville, Baltimore County has been sold for $10.1 million. Justin Verner, Brooks Healy, and Tom Wohlgemuth of Harbor Stone Advisors represented both the seller and buyer, Osprey Property Companies.
The apartments feature 2-bedroom units with patios/balconies, closets, and 125 parking spaces. Capital improvements include new roofs, entryway renovations, and updated windows.
“We were able to garner 16 competitive offers amidst a challenging marketplace for CRE sales. The suburban Pikesville location and value add component were looked upon favorably by bidders. The deal ultimately was purchased by a local firm, that was able to utilize government programs to ensure the preservation of affordable housing, while still allowing the seller to achieve their desired price.” said Verner.
- ◦Sale/Acquisition
