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August 14, 2019  

Value-Added Rental Play in Maryland

Clarion Partners is pitching a suburban Baltimore apartment property to value-added investors.The investment manager has tapped JLL to market the 531-unit Columbia Town Center, in Columbia, Md. The property is worth about $135 million, or $254,000/unit.The units, which are 94% occupied, range from studios to three bedrooms and average 1,039 square feet. The average rent is $1,860, or $1.79/sf.The complex, at 10360 Swift Stream Place, was built in...

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