MORNINGSIDE, MD – AMAC has sold a 410-unit multifamily property in Morningside, MD to Quantum Equities for $76 million.
The garden-style asset, Admiral Place, sold for a purchase price that equates to $185,366 per unit.
"We are excited to further expand Quantum's footprint in the Mid-Atlantic area with the acquisition of Admiral Place apartments," says Josh Fink, SVP of acquisitions at Quantum Equities. "The property provides an exceptional value-add opportunity in a strong rental market."
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Ingrid Tunberg
Ingrid Tunberg sits on the editorial team as a coordinator and reporter for Real Estate Forum and GlobeSt.com. She is responsible for writing stories, assisting with industry awards and marketing nomination events. Previously, Ingrid worked as a copywriter across various industries throughout New York City and Chicago.
