Star Real Estate Ventures has closed on the purchase of five multifamily apartment communities from a global private equity firm. Located in various areas throughout Maryland, the multifamily properties total 2,566 units. The transaction closed on May 30, 2019.
“The acquisition of this portfolio is consistent with Star’s strategy of owning and operating institutional-grade assets in which Star is able to implement its operational expertise to add value both to our tenants and investors,” said Issac Hera, CEO of Star Real Estate Ventures. “This is our second acquisition of 2019 following the purchase of an 852-unit portfolio in Cincinnati in February. We are actively looking for additional opportunities to expand our operation.”
The Maryland multifamily communities and locations include:
Charleston Place – Ellicott City, Maryland
Morningside Heights – Owings Mills, Maryland
Top Field – Cockeysville, Maryland
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