SVN REALSITE, a leading commercial real estate brokerage and advisory firm based in Baltimore, MD, has brokered the sale of The Gilman, a 28 unit multifamily asset in North Baltimore. Justin Verner and Brooks Healy served as exclusive advisor and agent to the seller, Three Guys Realty, in the disposition.

This 30,156-square foot asset was originally built in 1893. It is comprised of 28 of 31 cooperative units with a unit mix of (3) 1 Br-1 Ba, (20) 2 Br-1 Ba, and (5) 3 Br-1 Ba. The units feature porches, large layouts, and hardwood floors throughout.

The Gilman is located in the historic Charles Village neighborhood of Baltimore City, within short walking distance to the prestigious Johns Hopkins University (JHU). JHU is the top employer in Baltimore City, with over 25,000 employees, and is home to more than 7,000 undergrads and nearly 2,000 graduate students. The Gilman is also located within walking distance to MedStar Union Memorial Hospital (another top area employer) and Baltimore Museum of Art. The area has a Walk Score of 94, ranking it a Walker’s Paradise.

In prepared remarks, Verner indicated, "We were able to overcome a complicated deal structure via transacting into a cooperative ownership. The location, a few short blocks from JHU, ability to reposition management and add value via physical improvements were drivers of the sale. Our team sourced the buyer from California, continuing a trend of out of region buyers purchasing multifamily assets in Baltimore. ”

About SVN REALSITE

SVN REALSITE specializes in middle market apartment investment sales throughout Maryland, having sold over 225 apartment deals in the region. 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.