Harbor Stone Advisors, a Mid-Atlantic commercial real estate firm specializing in multifamily investment sales, has orchestrated the sale of Indian Head Apartments, a multifamily asset with significant value-add ability in Indian Head, MD. The property includes 16 residential units and is located just outside of the gate to the Naval Support Facility, the top employer in county. Harbor Stone Advisors President Justin Verner, Director Brooks Healy, and Senior Advisor Tom Wohlgemuth served as exclusive advisors to the seller.
Located at 4035-4045 Indian Head Hwy, the property featured a mix of (2) Studios, (4) 1 Br-1 Ba, (5) 1 Br-1 Ba with Den, and (5) 2 Br-1 Ba with surface parking for 8 cars in the front. Both buildings were vacant at the time of sale, as a result of fire damage in the last several years.
Wohlgemuth noted, “This transaction confirmed investor appetite remains very strong for heavy value-add assets, particularly those outside of urban centers. Our team garnered 8 offers within the 40-day marketing period and selected a purchaser who will be implementing a full renovation of both buildings.”
About Harbor Stone Advisors
Harbor Stone Advisors specializes in middle-market multifamily investment sales throughout the MidAtlantic. Advisory services include value opinions, asset dispositions and marketability analysis for private clients, owners, investors and financial organizations. For additional information, visit: www.harborstoneadvisors.com.
