Q2 2012 Baltimore, Maryland Apartment Property Sales Analysis

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Q2 2012 Baltimore, Maryland Apartment Property Sales Analysis


Just one apartment property sold in the second quarter according to Reis, but the price was high at $64.7 million and $254,000 per unit. Avalon Bay Communities sold the 255-unit The Residence at Waterstone in Pikesville, previously called Avalon Village Green, to KBS Legacy Partners Apartment REIT at a 4.2% cap rate. In December, Avalon had sold Avalon Columbia, another Baltimore area property. The rolling 12 month cap rate is 6.6%, down from the previous two quarters.