Berkshire had announced its plan in March to purchase the property for $30.2 million. The announcement also included the company's intention to acquire another suburban Baltimore property from a different owner.
In explaining its decision, Berkshire reasoned that the acquisition would not be in the best interests of the company. The main mission of Berkshire, which has a notable presence in the Baltimore and Metropolitan Washington, DC area, is to acquire and rehabilitate multifamily properties.
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