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| 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.
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| 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.
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| 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.
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| 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.
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
BRIAN CRIVELLA
MD Lic. #634831
HFF Senior Director
(202) 533-2500
OLIVIA HENNESSEY
HFF Public Relations
Specialist
(713) 852-3500