Continental Realty Corp. has closed on the disposition of four Baltimore apartment communities totaling 627 units to two separate buyers. Schweb Partners purchased Continental’s Hunting Hills and Mallow Hill complex, which totals 230 units in Hunting Hills. The properties are operated as a single apartment community. New York-based Kindred Property Group purchased Oaklee Village and Leeds Avenue, a total of 397 units that are operated as a single community. Dean Sigmon, Robin Williams and Justin Shay of Transwestern’s Mid-Atlantic Multifamily Group brokered the transactions on behalf of Continental Realty. Terms of the sale were not disclosed.
“All of these properties provided a compelling value-add investment opportunity,” said Shay. “Continental Realty had already achieved rental premiums by renovating interiors on some of the units. Additionally, the properties will continue to benefit from proximity to major employment centers like the University of Maryland – Baltimore County and Woodlawn Federal Center in neighboring Baltimore County.”
