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Blue Ocean Divests from 235-Unit Baltimore MF Property

Maryland-based real estate investment firm Blue Ocean has announced the sale of The Falls at Roland Park, a 235-unit multifamily community in Baltimore’s Roland Park submarket. The sales price and seller were not disclosed.

Blue Ocean acquired the property in July 2016 and implemented a large-scale rebranding and improvement to the community over several years. The property was formerly known as Belvedere Towers.

Alan Isenstadt of KeyBank Real Estate Capital arranged bridge loan financing to Blue Ocean as well as the subsequent Freddie Mac financing for the undisclosed buyer.

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About David Cohen

David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector. Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA. David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.

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