Harbor Stone Advisors has orchestrated the sale of Highland Court Apartments, a 78-unit garden apartment complex in Odenton, Maryland. Harbor Stone Advisors President, Justin Verner, and Senior Advisor, Brooks Healy, served as exclusive advisor and agent to the seller, Bethesda-based Outlier Realty Company, in addition to sourcing the buyer, Willow Creek Partners. The asset sold for $10,300,000, or $132,051 per unit.

Highland Court Apartments, originally constructed in 1962, consists of (19) 1 Br-1, (58) 2 Br-1 Ba, and (1) 2 Br-1 Ba with Den. Typical unit features include white or black appliances, wood cabinets, formica countertops, some dishwashers, and garbage disposals. Tenant amenities include four laundry rooms on-site, a surface parking lot, and a patio or balcony for each unit.

Verner noted, “Suburban garden apartment assets with a value-add component continue to be heavily sought after. The scarcity of middle market multifamily product in Anne Arundel County was also a big driver of this sale.”

Highland Court Apartments are conveniently located in Odenton, MD, just 20 minutes to Annapolis, 30 minutes to Baltimore, 45 minutes to Washington D.C., and 20 minutes to Columbia. A MARC train stop (on the Penn line, with service between DC and Baltimore) is located minutes from Highland Court. Maryland’s largest employer is Fort George G. Meade, located 10 minutes from the subject property and employing over 57,327 people. Fort Meade is home to 6 of the 8 U.S. Department of Defense (DoD) cyber defense agencies, including the National Security Agency (NSA) and the U.S. Cyber Command. It generates $27B in total output and $13B in wages. Johns Hopkins Healthcare's Odenton location, consisting of two pavilions, is just a 3 minute drive from the subject property. Hopkins employs a total of 855 people in Anne Arundel County. Highland Court is located just around the corner from Odenton Shopping Mall, featuring a Giant, Starbucks, Five Guys, and a Subway.

About Harbor Stone Advisors:

Harbor Stone Advisors specializes in middle-market multifamily investment sales throughout the Mid-Atlantic. Advisory services include asset dispositions and marketability analysis for private clients, owners, investors and financial organizations. For additional information, visit www.harborstoneadvisors.com.