BALTIMORE, MD – A joint venture between San Francisco-based real estate investment firm Hamilton Zanze and a subsidiary of Cantor Fitzgerald announced the sale of The Quarters at Towson Town Center in the desirable Towson/Hunt Valley submarket of Baltimore, Maryland. The firms bought the property in 2018 and the sale closed on November 10, 2021. The Newmark team of Christine Espenshade and Robert Garrish represented sellers at acquisition and disposition.
During their ownership, Hamilton Zanze completed numerous exterior improvements and landscaping improvements, and renovated 100 units with new countertops, appliances, and hardware to improve leasing efforts and increase rental rates.
“Since purchasing the property in August 2018 we implemented proactive asset management and completed value-add renovations, which kept occupancy above 94%, even throughout 2020, and ultimately positioned the property for a profitable exit for investors,” said Anthony Ly, director of dispositions at Hamilton Zanze.
“The profitable sale of The Quarters at Towson Center was a direct result of understanding the property’s location, situated in the heart of the growing Towson market, and capitalizing on increased demand for institutional-quality multifamily assets,” said Chris Milner, Head of Cantor Fitzgerald Investment Management.
The Quarters at Towson Town Center was built in 2009 and is located at 900 and 960 Southerly Road in Towson. The property comprises 430 one-, two-, and three-bedroom units averaging 1,111 square feet. The community has a resort-style pool and spa, two fitness centers, two club rooms, private courtyards with barbecues, business center, and garage parking.
The Quarters at Towson Town Center is in the Towson/Hunt Valley submarket of the Baltimore metro area. The community is in Central Townson near two highways providing access to local and regional areas of interest in and around Baltimore. The Towson Town Center, one of the largest indoor shopping malls in the state, is adjacent to the property. Baltimore is Maryland’s second-largest job center and the largest U.S. seaport in the Mid-Atlantic. The city is home to Johns Hopkins University and Johns Hopkins Hospital, two of the metro’s largest employers.

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MIAMI, FL – Starwood Real Estate Income Trust, a non-listed REIT managed by Starwood REIT Advisors, L.L.C., a subsidiary of Starwood Capital Group, announced the acquisition of a multifamily housing portfolio of 15,460 units located in 62 communities from Strata Equity Group, a privately held real estate investment and management company based in San Diego. Terms of the transaction were not told.
The bought portfolio is located in 27 markets across 10 states, primarily in the Southeast region of the United States, including Georgia, Tennessee, and North Carolina. The portfolio’s markets are experiencing substantial population, employment and income growth, projected to outpace the U.S. average by 2x over the next five years. These markets offer lower taxes and a cost of living below the national average, and continue to benefit from migratory trends toward the Sun Belt and other growth markets. The portfolio’s units offer affordability with high-quality amenities. Strata will remain in an asset management role for the bought portfolio.
James Kane, Head of Multifamily Asset Management for Starwood Capital, said, “We have known and respected the Strata team for many years and are pleased that this relationship led to a mutually beneficial transaction for both companies. We look forward to continuing to work with Strata to help realize the value of this portfolio.”
The Strata team responsible for the structuring and execution of the transaction was led by Scott Wittman and Andrew Gordon, Strata’s Chief Investment and Chief Operating Officers. Strata has sold in excess of $4 billion in multifamily assets this year through multiple transactions.
David Michan, Strata’s CEO, commented, “We are thrilled to complete this extraordinary transaction with Starwood on behalf of Strata and our investors. This further validates our strategy of acquiring quality affordable housing in growing markets. The Strata team has worked tirelessly to assemble and enhance this portfolio on top of the strong platform we have built. The assets performed well through the pandemic and we are excited the Strata team will remain involved and be a part of the continued success of these assets going forward.”
As of September 30, 2021, the SREIT portfolio had a total asset value of $12.6 billion across 246 properties. “We appreciate the opportunity to work directly with Strata on this significant transaction that is well suited to the stable yield profile of SREIT,” added Ethan Bing, Managing Director at Starwood Capital. “Portfolio recapitalizations are a key component of our investment strategy for SREIT and this transaction is another example of our ability to offer an attractive structure that meets the objectives of large owners seeking liquidity.”

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ATLANTA, GA – Capital Square 1031, a leading sponsor of Delaware statutory trust (DST) offerings for Section 1031 exchange and other accredited investors, announced the acquisition of a newly constructed multifamily community in Acworth, Cherokee County, within Metro Atlanta. The 339-unit multifamily community was bought on behalf of CS1031 The Quincy Apartments, DST.
“The Quincy is a Class A+, 339-unit apartment community in Cherokee County, within Metro Atlanta,” said Louis Rogers, founder and chief executive officer of Capital Square. “Cherokee County reported the second-highest population growth among all of the counties in the Atlanta-Sandy Springs-Roswell, GA MSA between the 2010 Census and the 2020 Census. Completed in 2021, the property’s initial lease-up was completed in only eight months, demonstrating exceptionally strong demand due to strong employment growth and proximity to Interstate 575 with new express lanes for quicker commutes throughout Metro Atlanta.”
Located at 900 Buice Lake Parkway, the community is situated on 17.71 acres of land. The Quincy features one-, two- and three-bedroom floorplans with an average unit size of 1,023 square feet.
Residents at The Quincy benefit from the community’s location in the Atlanta-Sandy Springs-Roswell, GA Metropolitan Statistical Area. The area offers convenient access to numerous recreational opportunities, retail services and employment opportunities including downtown Woodstock and Lake Allatoona.
The Quincy is approximately 19 miles from the 28-million-square-foot Cumberland/Galleria office submarket. The submarket is home to the headquarters of Home Depot, Comcast, HD Supply, Genuine Parts and Synovus Financial. Additionally, new headquarters for TK Elevator and Papa John’s have recently been delivered to the area.
Community amenities include a swimming pool with a tanning shelf and gas grilling station, a covered patio with natural gas fireplace and a resident lounge with television, surround sound and Wi-Fi. Additional amenities include a state-of-the-art fitness center with cardio and strength-training equipment, conference space with individual work rooms, lawn/event space with outdoor seating, a dog park, a mail center room with package delivery lockers as well as for-rent garage parking and storage units.
RangeWater Real Estate will continue to professionally manage The Quincy on behalf of Capital Square.

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