Gimbert Realty Capital (GRC) placed a new Loan on the SOHA Union Apartments property in Lauraville, Maryland, in Baltimore, MD.
This 16 Unit Luxury Rental property occupies 16,500 square feet of gross area and is complemented by attractive commercial tenants providing shopping for soft good as well as terrific food / Eating in options.
Despite delivering and beginning lease-up right at the start of the Pandemic, the property experienced swift lease-up showing that its attractive and well-designed apartment units to be a strong draw for tenants to come to this beautifully transitioning area.
The 4800 block of Harford Road is the only one like it in Northeast Baltimore’s Lauraville neighborhood, thanks to the lively presence of the SoHa Union development. At the corner of Southern Avenue and Harford,the project brings a modern twist melding elements of urban living — walkability, ground-floor commercial amenities — in an area traditionally dominated by fast-moving cars and low-density housing.
Lauraville boasts plenty of beloved mainstays, but this building has brought out some newcomers. Below the 16 modern, two-bedroom apartments is 9,600 square feet of commercial spread across five spaces. Tenants there include an Asian fusion restaurant Fire and Rice and the alternative health clinic Indu Wellness.
In recognition of the quality of this project, it won the 2021, Baltimore Business Journal, “Best In Real Estate Award” for Projects & Deals.
“Despite Pandemic related challenges and resulting lender wariness, we were able to source just the right financing structure to bring this wonderful project to completion.” – Mr. Tracy A. Beer – Partner
Founded in 1985, Gimbert Realty Capital has been serving a wide range of commercial real estate Investors and Developers in the Mid-Atlantic market for nearly 40 years. GRC is a long-time correspondent for over a dozen, highly competitive Life Insurance Company lenders.
Gimbert Realty combines the benefits of in-house, direct lending with a thorough, market-wide knowledge of all active lending source for Debt andEquity placements.
