SVN REALSITE, a leading commercial real estate brokerage and advisory firm based in Baltimore, MD, has brokered the sale of The Midwood, located in Northeast Baltimore. The $1,975,000 trade price equates to $70,536 per unit.

The transaction was brokered by Justin Verner, Senior Advisor and leader of SVN REALSITE’s Multifamily Practice, and Brooks Healy, SVN REALSITE Advisor. SVN served as the exclusive advisor and agent for the seller, 5001 SPRE, LLC in the disposition.

The Midwood Apartments consists of 28 (2) bedroom, (1) bathroom units. The property was gut renovated in 2013 and features a communal laundry room and parking lot.

Situated in suburban Northeast Baltimore within the quiet, mostly residential neighborhood of Kenilworth Park, Midwood is located across the street from Baltimore Collegiate School for Boys. Minutes to Loyola University MD, Notre Dame of MD University, Morgan State University, and the shops at Belvedere Square. Under 15 minutes to both Downtown Baltimore and Towson.

In prepared remarks, Verner indicated, "This was a rare opportunity to acquire a gut-renovated, mid-sized garden apartment asset in NE Baltimore. The local purchaser plans to reposition management and implement a plan to optimize expenses and bring rents to market."

About SVN REALSITE

SVN REALSITE specializes in middle market apartment investment sales throughout Maryland. Advisory services include value opinions, asset dispositions and marketability analysis for private clients, owners, investors and financial organizations. Their Multifamily Practice consists of local experts coupled with SVNI national resources which sold over $11.1B in total U.S transaction volume in 2017.

For additional information visit www.svnrealsite.com.