Pacific Urban Sells Baltimore Area Apt. Complex for $65M
KBS Legacy Partners Picks Up 255-Unit Property
April 11, 2012
Pacific Urban Residential sold the 255-unit multifamily at 225 Galvariun Court in Pikesville, MD, to KBS Legacy Partners Apartment REIT for $64.7 million or $253,725 per unit.
The Residence at Waterstone Apartments consists of 29 buildings and is 96 percent leased. The property, about 370,275 square feet in size, was constructed in 2002 on a 25.2-acre site. The townhouse-style community is about 24 minutes northwest of Baltimore.
No brokers were mentioned. Please see CoStar COMPS #2291014 for additional information.