Harbor Stone Advisors Facilitates Sale of Hansel Hall
Baltimore, MD – Harbor Stone Advisors, a Mid-Atlantic commercial real estate firm specializing in multifamily investment sales, has orchestrated the sale of Hansel Hall Apartments. The property includes 13 apartment units in Windsor Hills – a suburban neighborhood in Northwest Baltimore City. Harbor Stone Advisors President Justin Verner, Director Brooks Healy, and Senior Advisor Tom Wohlgemuth served as exclusive advisors to to both the buyer and midwest-based seller.
Hansel Hall is comprised of (9) 1 Br-1 Ba, (1) 1 Br-1 Ba with dining room, (2) 3 Br-1 Ba, and (1) 3 Br-1 Ba with dining room. Typical units feature white appliances, wood cabinets, laminate countertops, and carpet/laminate/ceramic tile flooring.
Former ownership completed a gut renovation of the property in 2013 which included apartment renovations and replacement of the roof, windows, and doors in addition to other capital improvements. A clear opportunity exists for new ownership to organically increase rents by at least $200 based on nearby market comparables.
Verner noted, “This marks the third workforce housing deal we have sold in the last month in Northwest Baltimore. Our team sourced a buyer who is continuing to expand their holdings in the area and plans on implementing a light value program.”
About Harbor Stone Advisors
Harbor Stone Advisors specializes in middle-market multifamily investment sales throughout the Mid-Atlantic. Advisory services include value opinions, asset dispositions and marketability analysis for private clients, owners, investors and financial organizations.
###