Harbor Stone Advisors, a Mid-Atlantic leader in multifamily investment sales, has arranged the sale of Maiden Choice Apartments, 60 apartments located in Halethorpe, MD. Harbor Stone Advisors President, Justin Verner, Director, Brooks Healy, and Senior Advisor Tom Wohlgemuth served as exclusive advisor to the seller, a private family trust, as well as sourcing the New York based buyer.
Maiden Choice Apartments is a mid-sized garden asset consisting of 60 units with a unit mix of (2) Efficiency units, (4) Studios, (24) 1 Br-1 Ba, (22) 2 Br-1 Ba, and (8) 2 Br-1.5 Ba. Typical unit features include white appliances, hard surface countertops, wood cabinets, carpet/tile flooring, and plentiful closet space with many units having walk-in closets. There are laundry facilities on-site, a surface parking lot, storage units for each apartment, and 60% of units have a balcony or terrace.
Verner noted, “Suburban, middle-market apartment assets with a value add component have continued to attract significant buyer attention, even amidst a rising interest rate environment. Maiden Choice has not changed hands since the 1990s. We were ultimately able to select a buyer at the guidance price, with a loan that rated locked early, and who owned similar apartment properties nearby.”
Maiden Choice is located in Halethorpe, MD, just a 14 minute drive southwest of Baltimore City and within close proximity to Catonsville, MD. Located minutes to I-95 and I-695. There are several nearby colleges: University of Maryland, Baltimore County (UMBC) is a 5-minute drive and 15-20 minute walk away. Community College of Baltimore County (CCBC) is located 10 minutes away and enrolled 45,118 students during the 2020-2021 academic year at its three locations. CCBC is also a top employer, with 4,184 employees. Additionally, 8 minutes away Ascension St. Agnes Hospital, a teaching hospital with 254 beds, employs 3,267. Maiden Choice is situated near plentiful retail. A 7-minute drive to Westview Mall, featuring a Lowe’s Home Improvement, Sam’s Club, and Marshall’s. A 2-minute drive to Weis Markets and a 4-minute drive to a Giant grocery store. Maiden Choice is also located just down the street from the quaint shops and cafes of Catonsville on Frederick Avenue.
About Harbor Stone Advisors:
Harbor Stone Advisors specializes in middle-market multifamily investment sales throughout the Mid-Atlantic. Advisory services include asset dispositions and marketability analysis for private clients, owners, investors and financial organizations. For additional information, visit www.harborstoneadvisors.com.
