StoneBridge Investments has acquired Gramercy at Town Center, a 210-unit rental apartment community in the heart of fast-growing Columbia, Maryland, for $67 million. The seller was not disclosed; however, CBRE presented the seller.
“We were attracted to this project because of its unique place within the submarket,” said Will Bateman, director, StoneBridge Investments. “Gramercy at Town Center affords residents a lower-density garden-style community and spacious units without sacrificing easy walkability to all Columbia’s downtown offers. We believe that by strategically renovating the amenities and unit interiors, we can position this property to continue competing as an attractive alternative to newer, higher-density projects in the area.”
“Howard County, the third wealthiest county in the nation, continues to attract strong demographics with its strategic location between Washington, DC and Baltimore, its proximity to Fort Meade and NSA, world-class edu
