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Northmarq Completes $54M Sale of Laurel BTR
A Northmarq specialty Build-to-Rent team led by Ari Azarbarzin has completed the $54 million sale of The Current at Watershed, a 97-unit build-to-rent community located at 3101 Runnel Lane in Laurel, Maryland. The Anne Arundel County site is 19 miles south of downtown Baltimore.
Northmarq represented the seller in the transaction. The team also included Chris Doerr, Jack Brocato, Will Harvey, Shack Stanwick, Wallace Halpert and Anthony Pino.
“Build-to-rent acquisition opportunities remain scarce within the D.C.-Baltimore area and the greater Mid-Atlantic region at this time,” said Azarbarzin. “The offering commanded significant investor interest because of the property’s superior construction, luxury townhome features, and ideal location just off Interstate 95.”
Built in 2023, The Current at Watershed offers three-story, three-bedroom townhomes with an average home size of 1,407 square feet. The property is situated within daily commuting distance of Baltimore, Washington and Annapolis.
