Maryland

OWINGS MILLS, MD. — TruAmerica has acquired Arbor Ridge Apartments, a 348-unit community located at 9204 Appleford Road in Owings Mill, a suburb of Baltimore. Bill Roohan and Brian Margerum of CBRE brokered the transaction, while Ryan Greer and Maxi Leachman, also with CBRE, arranged the permanent financing. The seller, sales price and loan amount were not released. Built in 1999, Arbor Ridge Apartments offer one-, two- and three-bedroom floorplans, ranging in size from 673 to 1,204 square feet, according to Apartments.com. Amenities include a swimming pool, sundeck, fitness center, business center, clubhouse, grilling and picnic areas and a dog park. TruAmerica plans to renovate the property with interior upgrades and amenity improvements.

BALTIMORE — Berkadia has brokered the $73 million sale of 1901 South Charles, two apartment buildings located across the street from each other in south Baltimore. The property consists of The Lofts (193 units at 1901 S. Charles St.; built in 2012) and The Flats (152 units at 2 E. Wells St.; built in 2015). The properties were approximately 95 percent occupied at the time of sale and are certified LEED Gold. Drew White, Brian Crivella, Carter Wood, Bill Gribbin, Yalda Ghamarian and Cole Carns of Berkadia represented the seller, New York-based Benefit Street Partners, in the transaction. The privately held buyer, San Francisco-based FPA Multifamily, assumed an existing HUD loan assumption as part of the transaction. The Lofts and The Flats comprise studio, one- and two-bedroom units that average 853 square feet in size and feature fully equipped kitchens with granite countertops, oversized windows, full-size washers and dryers, walk-in closets, 9-foot ceilings and patios/balconies in select units. Amenities include a 5,000-square-foot residential lounge, courtyard with grilling stations, 24-hour fitness center, rooftop deck with views of the Baltimore skyline and indoor parking with 534 spaces.