WASHINGTON, D.C., and RICHMOND, Va. — June 4, 2021 — Berkadia announced today the sale of Highland Village Townhomes, a 1098-unit garden-style multifamily property in Halethorpe, Maryland. Senior Managing Director Drew White of Berkadia’s Washington, D.C. office and Director Carter Wood of Berkadia’s Richmond, Virginia office completed the $139.85 million sale on behalf of the seller, New York-based Kushner Companies. The buyer was New Jersey-based Olive Tree Management, and the deal closed on April 15.
“The sale of Highland Village Townhomes offered a rare opportunity to acquire impressive scale in a strongly performing market,” said White. “We were excited to work on this transaction and achieve successful results for all involved.”
Located at 3953 McDowell Lane, Highland Village Townhomes features one-, two- and three-bedroom floor plans with air conditioning and walk-in closets. Community amenities include laundry facilities, a playground and a day care center. Residents are offered convenient access to Downtown Baltimore and Interstate 95.