SVN REALSITE, a leading edge commercial real estate brokerage and advisory firm based in Baltimore, MD has arranged the sale of The Professional Building in Downtown Baltimore for $3.7M.

The transaction was arranged by Justin Verner, Senior Advisor and leader of SVN REALSITE’s Multifamily Practice, and Brooks Healy, SVN REALSITE Advisor. SVN served as exclusive advisor and agent in the disposition for the seller, Edward Scott of Kline Scott Visco.

This 33,078 square foot, 27-unit building was built in 1906 and gut renovated in 2006. It features 25 apartments and 2 street level retail spaces. Typical unit features include hardwood floors, granite countertops, stainless steel appliances, and high ceilings. Preserved historic features include grand marble hallways and stairwells. Situated in Downtown Baltimore, the property is located in close proximity to the Inner Harbor, Central Business District, MICA, University of Baltimore, Peabody Institute, University of Maryland Medical Center’s Midtown Campus, Mercy Hospital, and Camden Yards.

The asset ultimately sold to a West Coast buyer who is continuing to expand their Downtown Baltimore portfolio. “The Professional Building is a historically stable Class B asset located in a desirable block of Downtown Baltimore,” indicated Verner. “The purchaser will look to increase below market rents, install new retail tenants, and take advantage of the area's future upside."

The SVN REALSITE Multifamily Team specializes in private client apartment investment sales throughout the Baltimore metro area. For additional information, visit the multifamily section of their homepage at www.svnrealsite.com and follow them on Twitter @svnrealsite.