HFF announces $83 million sale of Alexan Concorde in Linthicum Heights, MD

Alexan Concorde Apartments, 811 Concorde Circle,
Linthicum Heights, MD

WASHINGTON, DC –– Holliday Fenoglio Fowler, L.P. (HFF) announces the $83 million sale of Alexan Concorde, a 310-unit, Class A luxury apartment community in Linthicum Heights, Maryland.

The HFF team marketed the property exclusively on behalf of the seller, a joint venture between Trammell Crow Residential and an affiliate of Western & Southern Financial Group, represented by its subsidiary Eagle Realty Group.  The buyer, procured by the HFF team, was AvalonBay Communities, Inc.

Alexan Concorde Apartments Entryway

Alexan Concorde is located at 811 Concorde Circle less than a mile from the Baltimore-Washington Parkway (Highway 295) and adjacent to Baltimore-Washington International (BWI) Airport. 

 Though the property is situated on 11.4 acres in a quiet wooded neighborhood setting, the property is still highly accessible to more than 36.5 million square feet of office space within 10 minutes and a short commute from other major employment drivers in Baltimore, Fort Meade and Washington, D.C. 

Walter Coker

Completed in 2016, the Alexan Concorde’s five elevator-serviced buildings house a mix of studio, one-, two- and three-bedroom units averaging 973 square feet with features, including stainless steel appliances, granite countertops, chef islands, hardwood-style flooring, designer lighting packages, keyless entry and walk-in closets. 

 Community amenities include a resort-style pool with fire pit and grilling stations; clubhouse with shuffleboard, billiards, outdoor ping pong and multiple high definition TVs; community kitchen and workspace; oversized fitness area with cross fit gym and adjoining children’s mini-club; and dog run.

The HFF investment advisory team representing the seller included Walter Coker and Brian Crivella.

“The sale of Alexan Concorde represents a prime example of the renewed interest by institutional REITs in high-quality suburban assets,” Crivella commented.

 Trammell Crow Residential (TCR) is a national multi-family real estate developer with over 40 years’ experience and a local presence in 12 key U.S. markets.  Since 2012, TCR has developed, financed and asset managed more than $5 billion of multi-family communities totaling over 20,000 units, delivering amenity-rich communities in economically thriving locations nationwide.  

Brian Crivella

TCR and Crow Holdings Industrial (CHI) are the development divisions of Crow Holdings, a real estate investor, developer and owner with a global multi-asset investment platform and longstanding industry relationships built on trust, integrity and partnership. 

For more information, please visit http://tcr.com.

Founded in Cincinnati in 1888 as The Western and Southern Life Insurance Company, and celebrating 130 years this year, Western & Southern Financial Group, Inc. (Western & Southern), a Fortune 500 company, is now the parent company of a group of diversified financial services businesses.  

Its assets owned ($48.3 billion) and managed ($26.2 billion) total $74.5 billion as of June 30, 2018,

For more information on the Western & Southern family of companies, visit www.westernsouthern.com.  

Eagle Realty Group, a member of the Western & Southern Financial Group, is a real estate capital provider and asset management company based in Cincinnati, Ohio. 

AvalonBay Communities, Inc. is in the business of developing, redeveloping, acquiring and managing high-quality apartment communities in the high barrier-to-entry markets of the United States.  

CONTACTS:

WALTER COKER

MD Lic. #524884

HFF Managing Director

(202) 533-2500

wcoker@hfflp.com

BRIAN CRIVELLA

MD Lic. #634831

HFF Senior Director

(202) 533-2500

bcrivella@hfflp.com

OLIVIA HENNESSEY

HFF Public Relations Specialist

(713) 852-3500

ohennessey@hfflp.com