ABERDEEN, MD, March 1, 2012 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has brokered the sale of Perrywood Garden (top left photo), a 184-unit, 137,081-square foot apartment complex located in Aberdeen, part of the Baltimore-Towson metropolitan statistical area.
The sales price of $10,337,000 equates to $56,179 per unit or $75 per square foot. The property is subject to a project-based Housing Assistance Payment Contract for 100 percent of the units.
Donald “Ridge” MacLaren (top right photo), first vice president investments, Andrew Townsend (middle left photo), senior associate and Clarke Talone (lower right photo), associate, all based in Marcus & Millichap’s Philadelphia office, represented the seller, Perrywood Garden Associates LP.
MacLaren, Townsend and Talone procured the buyer, Tryko Partners LLC. David Feldman, regional manager of the firm’s Washington, D.C. office, was the broker of record.
“Perrywood Garden is centrally located between Baltimore and Wilmington and is in close proximity to the United States Army’s Aberdeen Proving Ground,” says MacLaren.
“The property has an in-place Housing Assistance Payment Contract and the new owner has a tremendous upside in reducing operating expenses and receiving yearly rent increases as the Aberdeen rental market continues to thrive.”
The property is located at 301 Mayberry Drive in Aberdeen on 18 acres of maturely landscaped grounds.
Perrywood Garden was built in 1971. The complex is composed of eight buildings featuring approximately 23 units each. The unit mix is 44 one-bedroom units and 140 two-bedroom apartments. Amenities include a large outdoor pool, basketball courts, a new children’s playground, ample on-site parking and laundry facilities in each building.
Contact: Stacey Corso, Public Relations Manager, (925) 953-1716
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