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Lee & Associates | Maryland has brokered the $8.8-million sale of three residential portfolios accounting for 85 multifamily and single-family units in the Baltimore area

Lee & Associates Brokers Three Baltimore Residential Portfolios for $9M

Columbia, MD-based Lee & Associates | Maryland has brokered the sale of three separate residential portfolios, cumulatively accounting for 85 multifamily and single-family units in the Baltimore area, for $8.8 million. The brokerage’s Stephen Weiss represented the seller in each transaction.

A private Baltimore-based family trust sold a 34-unit multifamily portfolio in Baltimore City for $3.4 million. The buyer was Castilian Properties.

Omicelo, LLC, disposed of 22 single-family homes on the east side of Baltimore City to Bastogne Development Partners for just over $2.4 million. That company also recently acquired 29 single-family homes in Baltimore City from a Baltimore family for $3 million.

“Many residential property owners remain extremely motivated to sell based on steadily rising pricing and interest rates that continue to be at historically low levels,” explained Stephen Weiss of Lee & Associates. “Competition is fierce on the buyer side as capital is readily available from various sources.”

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Lee & Associates' Weiss

About Lisa McDuffie

Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group. When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.

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