LAUREL, MD–Baltimore-based BDMG has acquired a multifamily portfolio here for $130 million. The 982-unit portfolio, which was sold by an LLC, consists of two properties: Arden Pointe I, located at 13301 Edinburgh Ln, which has 420 units and Arden Point II, located at 13301 Arden Wy., with 552 units. The garden style complex was built in 1969.
Last year around this time BDMG acquired the 591-unit Gates of Cipriano apartment complex for $82.3 million, or $139,171 per unit from the Laramar Group. Located at 8501 Greenbelt Rd., it was built in 1966.
It has also acquired Parkway Terrace, a 315-unit apartment complex at 3515 Parkway Terrace Drive in Suitland, for $20.1 million, in recent years.
LAUREL, MD–Baltimore-based BDMG has acquired a multifamily portfolio here for $130 million. The 982-unit portfolio, which was sold by an LLC, consists of two properties: Arden Pointe I, located at 13301 Edinburgh Ln, which has 420 units and Arden Point II, located at 13301 Arden Wy., with 552 units. The garden style complex was built in 1969.
Last year around this time BDMG acquired the 591-unit Gates of Cipriano apartment complex for $82.3 million, or $139,171 per unit from the Laramar Group. Located at 8501 Greenbelt Rd., it was built in 1966.
It has also acquired Parkway Terrace, a 315-unit apartment complex at 3515 Parkway Terrace Drive in Suitland, for $20.1 million, in recent years.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
