SVN REALSITE, a leading commercial real estate brokerage and advisory firm based in Baltimore, MD, has arranged the sale of Preston Place, a 10 unit multifamily asset located in the Baltimore City neighborhood of Mt Vernon. Justin Verner and Brooks Healy served as exclusive advisor and agent to the seller, Green Dot LLC in the disposition.

Preston Place is located in the historic Mt Vernon neighborhood of Baltimore City, within short walking distance to University of Baltimore, Maryland Institute College of Art, and Baltimore's Penn Station. There are many cultural landmarks in the neighborhood, including the Washington Monument, Johns Hopkins University's prestigious Peabody Institute, the Walter’s Art Museum, and Meyerhoff Symphony Hall. The area has a Walk Score of 93, ranking it a Walker's Paradise.

In prepared remarks, Verner indicated, "Mount Vernon continues to be one of Baltimore's strongest rental markets, and accordingly, investor appetite is high in the neighborhood. This asset saw multiple offers and ultimately traded to an out-of-state 1031 exchange buyer.”

About SVN REALSITE

SVN REALSITE specializes in middle market apartment investment sales throughout Maryland, having sold over 225 apartment deals in the region. Advisory services include value opinions, asset dispositions and marketability analysis for private clients, owners, investors and financial organizations. Their Multifamily Practice consists of local experts coupled with SVNI national resources which sold over $11.1B in total U.S transaction volume in 2017.