Pensam Provides $5M in Preferred Equity for Baltimore Apartments
Real estate multifamily lender and investor Pensam has provided a $5 million preferred equity investment for the acquisition of The Falls at Roland Park, 234-unit apartment community in Baltimore. Blue Ocean recently divested from the property.
Built in 1965, The Falls at Roland Park is located in the Poplar Hills submarket of Baltimore. The property is nearby downtown Baltimore and John Hopkins University, which is the largest employer in Baltimore.
“This unique property provides us with an exciting opportunity to expand our footprint in the Baltimore market,” said Hen Shoval, principal and director of investments at Pensam. “Through the recent market headwinds, Pensam has continued to invest preferred equity for multifamily assets. We are one of the most active preferred equity investors behind Freddie Mac and Fannie Mae senior debt.”
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