Search
 

European Investors Behind StoneBridge's Acquisition of Columbia Apartment

COLUMBIA, MD--McDowell Properties sold the 135-unit Beech's Farm for $25.5 million.

By Erika Morphy | erikamorphy | Updated on December 19, 2016

Beech's Farm Beech’s Farm

COLUMBIA, MD–The Washington DC-based StoneBridge Investments has acquired Beech’s Farm, a 135-apartment community here on behalf of European investors. The property, sold by an entity controlled by McDowell Properties, traded for $25.5 million.  The new owner is planning to renovate the units when they turn over.

Stonebridge Investments acquired the property on behalf of its European investors, according to the company. This type of asset offers diversification beyond the Eurozone and its current uncertainty, while also providing more exposure to the US dollar, Managing Director Kees Brüggen explained in a prepared statement.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.