We are delighted to share some exciting news with you – we have recently acquired County Village Apartments in Bel Air, MD, marking a significant addition to our portfolio. Situated in Harford County, this property boasts 344 units and has a rich history, having been built in 1970.
The acquisition was completed from Harbor Group International, marking our second successful collaboration with them. The professionalism and expertise of the Harbor Group team made the transaction a pleasure to work on.
This venture also marks our inaugural multifamily acquisition in Harford County. Despite having previously focused on condo and townhome projects, we are thrilled to now include a rental property in our portfolio within the county. Our upcoming plans include comprehensive renovations and upgrades to enhance the quality of living in the apartment homes. Drawing inspiration from the positive feedback received at Fairland Crossing and Mills Crossing, we aim to incorporate similar high-quality finishes at Country Village.
The response from our investors has been overwhelming, with a high level of interest in this deal. The total equity reached $17,110,000 and was fully subscribed in a remarkably short amount of time. With a strong team in place at the property, and detailed business plan we anticipate a positive impact this acquisition will have on our overall portfolio.
In closing, we are excited about the future of County Village Apartments and are committed to maintaining the high standards we have set with our previous projects. Thank you for being a part of this journey with us.
