CREC Real Estate (CREC) announced the sale of Orchard Meadows Apartments, a 240-unit multifamily community located in Ellicott City, Md. Terms of the transaction were not disclosed.
"We acquired Orchard Meadows in 2018, completing upscale renovations and strengthening the property's operational performance during our hold period," said Aaron Dixon, president at CREC. "We are excited to begin 2024 with the sale of Orchard Meadows on behalf of our investors and are confident the property will continue to be a premier living destination in Ellicott City."
Orchard Meadows was built in two phases, first in 1998 with 96 two-bedroom garden units, followed by the addition of 144 one- and two-bedroom units in 2012, all with nine- to 10-foot ceilings. Select units have been renovated with stainless steel appliances, modern cabinetry, granite countertops, tile backsplash, smart home devices, vinyl hardwood plank flooring and individual full-sized washers and dryers. The property
