Sage Management bought two multifamily assets in the Washington, DC, and Baltimore metro areas for a combined $113.2m. The 291-unit Midtown at Camp Springs in Camp Springs, Maryland, traded for $63.2m, while Falcon Crest Apartments in Owings Mills, Maryland, sold for $50m. Totaling 687 units, the communities will be owner-managed and will receive amenity improvements and various renovations. CBRE Capital Markets originated financing through Freddie Mac. With this purchase, Sage Management currently owns more than 2,000 units in the Baltimore and Washington, DC, metro areas.
