March 28, 2022

The Investor Appetite For Multifamily Developments In Central Maryland Has Grown Further In Recent Years

“The desire to own this asset class is stronger than ever,” said Ari Abramson, Vice President, Acquisitions at Continental Realty Corporation. “We are seeing investors flood back into the multifamily market, urban and suburban alike. We are at record levels of sales transactions and the majority of those took place in urban areas, such as downtown Baltimore.” Investors, Abramson said, are attracted to the region because of its durable economy. “It is anchored in life science, education and technology so it is seen as a safe economy with a solid employment base.” Ongoing development at Port Covington and Harbor East are expected to draw more young professionals to the region and further strengthen the demand for multifamily properties, he said. In addition, recent, high-quality, high-density multifamily developments in “first ring markets” – including Towson, Owings Mills and Columbia – have demonstrated high demand for apartments and condominiums in “urbanesque settings” that have ample retail and quality schools.

Click this link to read the entire NAIOP-MD Insights Magazine article.