BALTIMORE, MD – CAPREIT, a fully integrated real estate operating company responsible for the ownership and management of more than $5 billion of multifamily assets, announced the grand opening of Nelson Kohl, a luxury apartment community in the Charles North neighborhood of downtown Baltimore. 

CAPREIT will manage the 103-unit community, which was developed by partner SAA Ernst Valery Investments. Actor Wendell Pierce, best known for his roles on Suits and The Wire, is also a partner of Ernst Valery and participated in the ribbon cutting ceremony. 

“Nelson Kohl’s design and presence are distinctive in a St. Charles neighborhood that is already brimming with culture and an artistic flare,” said Andrew Kadish, president of CAPREIT. “We’re ecstatic for the opportunity to manage this wonderful community in a wonderful city, and we look forward to providing an unmatched resident experience in the area. The location is incredible with its multitude of options within walking distance.”

As part of the Station North Arts and Entertainment District, the community sits within minutes of a wide variety of art galleries, music venues, movie theaters, cafés, restaurants and cultural options. Nationally prominent Maryland Institute College of Art is within a half-mile, and additional neighborhood attractions include Charles Theatre, Milk & Honey Market, yoga outlet Asana Roots, and distinctive cuisine options such as Bottega, Pen & Quill and Tapas Teatro. 

Situated at 20 East Lanvale Street across from Penn Station, the community will feature a gallery wall highlighting local artists on the first floor. The art will reflect the neighborhood by incorporating themes from Charles North’s storied cultural past. In addition, many of Nelson Kohl’s resident events will be geared toward arts, music and theater. The community will also be in the center of the action for the annual Artscape Baltimore Festival each summer. 

Nelson Kohl consists of studio, one- and two-bedroom homes with various floor plans. Community amenities include a rooftop terrace with breathtaking views of Baltimore, sky lounge, library, contemporary lobby and gallery, fitness center, digital package room, onsite parking and dog run. Residents also have access to bike storage. 

Apartment interiors feature open floor plans with plank-style flooring, oversized windows, quartz countertops, stainless steel appliances, 42-inch custom cabinetry, in-unit washers and dryers, spacious closets, free cable/high-speed internet and tile flooring and brushed-chrome fixtures in bathrooms.

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MINNEAPOLIS, MN – The Praedium Group, a New York City-based national real estate investment firm, announced the acquisition of Maverick North Loop Apartments in Minneapolis, MN. Chris Hughes, Managing Director of The Praedium Group, made the announcement of the investment firm’s most recent acquisition.

Built in 2017, the newly constructed Property consists of two buildings – one 6-tale building comprised of 155 flats and loft residences, and one 4-tale building containing 13 townhomes. The property also includes 5,095 SF of ground floor retail space, approximately half of which is leased to Starbucks.  Unit interiors feature quartz countertops, caramel-colored vinyl wood plank floors, stainless steel appliances, light grey walls with white trim, gear wall in unit entries, kitchen islands, white subway tile backsplash, frameless glass shower doors in bathrooms, and 9′ ceilings with lofts ceilings in select units. Community amenities include a pool terrace and lounge, outdoor spa pool, sundeck terrace, outdoor grilling stations, 24-hour fitness center, outdoor yoga lawn, skyview terrace and lounge, outdoor private dining areas, Downtown/river views, clubhouse with lounge area, indoor bike parking, and dog bath and walk area. 

Maverick is located within the North Loop of Minneapolis, an area populated by young professionals, tech and creative focused office users, upscale apartments, art galleries, and a nationally acclaimed restaurant scene. “Maverick’s desirable North Loop location offers residents connectivity to nearby North Loop retail and entertainment options, as well as major employers in the CBD, evidenced by the Property’s 94 Transit Score and 93 Walk Score,” added Hughes.

Minneapolis/St. Paul has a strong and diverse business base with a vibrant economy that features the fourth-lowest unemployment rate nationally among large MSAs. Additionally, Minneapolis/St. Paul placed 1st nationally in average market occupancy and 9th in annual rent growth for new residents in the Fourth Quarter of 2017, per RealPage, Inc.  “The Minneapolis/St. Paul market continues to demonstrate strong performance, and is projected to do so over the next 5 years, with rent growth projections outpacing the national average, per AXIOMetrics,” noted Kelsey Durels, Associate of the Praedium Group.

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HOUSTON, TX – Waterton, a U.S. real estate investor and operator, today announced it has bought Carrington at Barker Cypress, a 330-unit rental community at 7202 Barker Cypress Road in Cypress, Texas – approximately 25 miles northwest of downtown Houston.

Built in 2007, Carrington at Barker Cypress offers a mix of one-, two- and three-bedroom townhome-style apartments ranging in size from 830 to 1,567 square feet. Select units feature attached garages with individual driveways and private entries. Shared amenities include a resort-style pool with sun deck, poolside grilling area, car care center and clubhouse featuring a fitness center and yoga studio, game/billiard room and fully equipped business center.

“Houston as a whole has seen a decline in multifamily supply, which has made investing in the area particularly compelling,” said Matt Masinter, senior vice president of acquisitions at Waterton. “Waterton intends to renovate all of the units to a modern end level – installing stainless steel appliances, granite countertops, new cabinet fronts and tile backsplashes.”

In addition to offering convenient access to nearby shops, restaurants and entertainment venues, the apartment community is adjacent to Langham Creek High School and Holmsley Elementary School. It also offers simple access to Houston’s major employment centers in the energy corridor, along Route 290 and in the northwest industrial submarket.

Carrington at Barker Cypress marks Waterton’s first multifamily acquisition in 2018. The firm owns and manages two other rental communities in the Houston area totaling nearly 570 units.

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