​BALTIMORE, MD – Transwestern today announces it represented Continental Realty Corp. in the disposition of four Baltimore apartment communities totaling 627 units. Schweb Partners purchased Hunting Hills and Mallow Hill, totaling 230 units, and New York-based Kindred Property Group purchased Oaklee Village and Leeds Avenue, totaling 397 units. The sale prices were not disclosed. Dean Sigmon, Robin Williams and Justin Shay of Transwestern’s Mid-Atlantic Multifamily Group brokered the transactions on behalf of Continental Realty.

“All of these properties provided a compelling value-add investment opportunity,” said Shay. “Continental Realty had already achieved rental premiums by renovating interiors on some of the units. Additionally, the properties will continue to benefit from proximity to major employment centers like the University of Maryland – Baltimore County and Woodlawn Federal Center in neighboring Baltimore County.”

According to Transwestern research, the Baltimore metro professional/business services sector added 10,900 new jobs in 2016, the most of any sector in the market, followed by education/health services, which expanded by 8,200 new positions.

“The Baltimore metro’s strong job growth in higher-earning wage sectors is creating more opportunities for value-add investors to achieve substantial yield,” said Sigmon.

Hunting Hills, located at 4601 Pen Lucy Road, and Mallow Hill, located at 220 Stonecroft Road, are operated as a single apartment community, increasing management efficiency. Oaklee Village, located at 1001 Arion Park Road, and Leeds Avenue, located at 1005 Leeds Ave., are also operated as a single community. With proximity to Interstates 695, 95 and 70 and Routes 1 and 40, the properties offer convenient access to downtown Baltimore and numerous employers in Baltimore County, including St. Agnes Hospital, the University of Maryland – Baltimore County, the U.S. Social Security Administration and BWI Airport. 

ABOUT TRANSWESTERN
Transwestern is a privately held real estate firm of collaborative entrepreneurs who deliver a higher level of personalized service – the Transwestern Experience. Specializing in Agency Leasing, Tenant Advisory, Capital Markets, Asset Services and Research, our fully integrated global enterprise adds value for investors, owners and occupiers of all commercial property types. We leverage market insights and operational expertise from members of the Transwestern family of companies specializing in development, real estate investment management and research. Based in Houston, Transwestern has 34 U.S. offices and assists clients through more than 180 offices in 37 countries as part of a strategic alliance with BNP Paribas Real Estate. Experience Extraordinary at transwestern.com and @Transwestern. For updates from the Mid-Atlantic region, follow @TranswesternDC.

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