SVN REALSITE, a leading commercial real estate brokerage and advisory firm based in Baltimore, MD, has arranged the sale of Woodhill Apartments and Woodhill at Radecke. The transaction was brokered by Justin Verner, SVN REALSITE’s Maryland Multifamily Practice Leader, and Brooks Healy, SVN REALSITE Advisor. SVN served as the exclusive advisor and agent for the seller, Woodhill Properties LLC. The property was purchased by JBZ Management.
Woodhill Apartments are located 5601 Leiden Road in the Rosedale neighborhood of Baltimore County, and includes 44 apartment units. Woodhill at Radecke is located at 5700 Radecke Avenue just inside the Baltimore City line, and consists of 40 garden style apartment units. The two properties are just a few minutes’ drive apart. Both properties were constructed in the 1970’s and have a cumulative building size of 80,640 SF. Woodhill Apartments has a unit mix of 7 one-bedroom units, 36 two-bedroom units, and one office space. Woodhill at Radecke consists of 16 one-bedroom units and 24 two-bedroom units.
Woodhill Apartments feature balconies, a common area laundry room, and on-site parking. Woodhill at Radecke features large living rooms, new kitchen appliances, ample closet space, replacement energy efficient windows, patios, and a common area laundry room.
Situated just a 2-minute drive from each other, Woodhill is located in the Rosedale neighborhood of Baltimore County, while Woodhill at Radecke is in the Frankford neighborhood of Northeast Baltimore City. ?Woodhill Apartments are located in a quiet, suburban and mostly residential neighborhood that’s just a 15-minute drive to Downtown Baltimore, Towson, and White Marsh.
Minutes to I-95, I-695 I-895, and multiple bus lines. Major area employers include Johns Hopkins Bayview Medical Center, H&S Bakery, Amazon, and MedStar Good Samaritan Hospital.
In prepared remarks, Verner indicated, “This was the essence of a workforce housing value add opportunity. The purchaser will seek to reposition management and implement an improvement program to increase rents."
About SVN REALSITE
SVN REALSITE specializes in middle market apartment investment sales throughout the Mid-Atlantic.. 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 $12.1B in total U.S transaction volume in 2018. ?
For additional information, visit www.svnrealsite.com.
