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Washington DC  + DC Metro  + Apartments  | 

Peak Management Acquires Towson Apartments for $36M

Peak Management LLC has acquired Ruxton Towers Apartments, a multifamily community comprised of 144 high-rise apartment units in the Towson section of Baltimore County for $35.6 million.

Located at 8415 Bellona Lane and consisting of one, two and, three-bedroom apartment units, Ruxton Towers Apartments was approximately 99% leased at the time of the acquisition. Ruxton Towers also includes 33,000 square feet of commercial office space located on the ground-floor level which is 98% occupied. Amenities include an outdoor swimming pool and sundeck, recently-renovated pool house with a fitness center, resident lounge and business center.

CBRE represented the undisclosed seller as well as Peak Management in the transaction. Peak Management plans to immediately implement a value-add strategy at Ruxton Towers Apartments with the addition of in-unit washing machines and dryers. The current configuration consists of laundry rooms on each floor.

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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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