Harbor Stone Advisors, a Mid-Atlantic leader in multifamily investment sales, has arranged the sale of The Winchester, a 9-unit multifamily asset located in Westminster, MD, in addition to North Court Apartments, 6 mixed-use units also located in Westminster. Harbor Stone Advisors President, Justin Verner, and Senior Advisor, Brooks Healy, served as exclusive advisor and agent to the sellers of both properties.
The Winchester is located at 78 Winchester Avenue, Westminster, MD 21157. The asset was originally constructed in 1875 and features 9 apartments and 8 leased garages, with a residential unit mix of (3) Efficiencies, (2) 1 Br-1 Ba, and (4) 2 Br-1 Ba Townhomes.
North Court Apartments is located at 41 N Court St, Westminster, MD 21157, just a few blocks from Westminster’s charming Main Street. The property was built in 1880 and renovated in 2013. It contains a unit mix of (2) offices, (2) 2 Br-2 Ba, (1) 2 Br-1 Ba, and (1) 1 Br-2 Ba.
Verner noted, “It’s exciting to see these transactions close amidst the uncertainty in the markets with COVID-19. Regional, balance sheet lenders are still looking to place debt with qualified sponsors. The tertiary market of Westminster afforded higher than typical returns and the majority of tenants in these assets are long term renters.”
The Winchester and North Court are both located in the heart of downtown Westminster, Maryland, just blocks away from charming Main Street. Baltimore Boulevard is a short drive away, featuring many national and regional chains such as Target, Walmart, Home Depot, Lowe’s, Kohl’s, Food Lion, and Starbucks. A 6-minute drive to TownMall of Westminster, which features more than 80 stores, a food court and Regal Cinemas. Close proximity to both McDaniel College and Carroll Community College. Major area employers include Carroll Hospital Center, with 1,997 employees; McDaniel College with 800 employees; and Penguin Random House with 753 employees. A 45-minute drive to Downtown Baltimore. Close proximity to the Pennsylvania line; a 42-minute drive to Gettysburg, PA. Ten miles from I-795 S. Nineteen miles to I-695.
About Harbor Stone Advisors:
Harbor Stone Advisors specialize in middle-market multifamily investment sales throughout the Mid-Atlantic. Advisory services include value opinions, asset dispositions and marketability analysis for private clients, owners, investors and financial organizations.? ?For additional information visit www.harborstoneadvisors.com
