Murn Management announced today the addition of three new properties totaling 929 units to its portfolio: The Garfield, a 348-unit multifamily property in Bowie, MD, The Townes at Holly Station, a 510-unit townhome property in Charles County, MD, and Townes at Pine Orchard, a 71-unit townhome project in Ellicott City, MD.
The new projects bring Murn Management to 1,725 units under management today with another 1,200 currently in development, all in the Baltimore region.
Murn Management was founded less than one year ago by industry veterans Chris Murn, Keith Gillan, and Megan Pugh. The company provides property management for multifamily rental properties in the Baltimore Washington corridor during all phases of the development life cycle: design, development, financing, and construction management, pre-opening, leasing, and property management. Murn Development is actively developing nearly 1,000 units which Murn Management will lease and operate.
“The rental market is rapidly changing,” Gillan said. “We believe that current lifestyle, economic and demographic trends favor apartment living for many people, who are waiting longer to make major lifestyle changes including buying their first home and starting families.”
Murn Management’s first deal was managing Creekstone Village Apartments in Anne Arundel County, which is 349 units. The project’s second phase delivered in 2016 and is 95 percent occupied.
Murn Management currently employs 50 individuals and anticipates further growth. The portfolio will continue to expand with the delivery of new projects developed by Murn Development as well as third party clients. The trio are actively pursuing acquisition opportunities in the local area.
“We look forward to growing while remaining a boutique-style company dedicated to individualized and personal customer service,” Gillan said.
Murn Management is a Columbia, MD –based property management company that was founded in 2016. The company provides third party, full service property management services and development expertise, as well as new property development. For more information, visit Murn Management’s website at www.murnproperties.com
