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Island Club Apartments 144
Units, Salisbury, MD
Updated garden apartment complex on a tranquil
setting. The property was purchased from a REIT and was
well maintained and updated. The property will be
re-branded and spruced up to improve curb appeal and we
believe operations can be improved upon. |
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Commercial Loan Secured by a Retail
Building Baltimore, MD |
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Purchase of the loan on a owner occupied retail property
in Upper Park Heights Baltimore. The loan which was in
default at the time was purchased for a significant
discount from a major Bank. Since the purchase we have
been able to collect current payments and realize a
healthy cash flow on invested capital. |
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The Bristol Apartments
76 Units, Baltimore, MD |
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Located in the Upper Park Heights area of Baltimore, this
property is representative of the type of rental property we
seek. The property is located across the street from the
Reisterstown Plaza Metro Stop and Shopping center. Due to
financial distress of the seller we were able to purchase
this well maintained property at a favorable price. The
building consistently maintains full occupancy. |
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Bancroft Court Apartments
25 Units - Baltimore, MD |
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Located in the Upper Park Heights area of Baltimore, this
property has large units in a quiet setting. The property
had suffered years of neglect. When
purchased by us, the property was in desperate need of
renovation and professional management. We immediately
changed management and implemented a major renovation
program replacing major structural components as well as
updating kitchens and baths. Initially financed with
FHA co-insured debt, the property has subsequently been
refinanced several times. Today, the property is
consistently fully occupied with a waiting list, and offers
one of the best rentals in this market area. |
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Westmore Industrial Rockville, MD |
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St. Charles Industrial Center
Industrial Flex, St.
Charles, MD |
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The St. Charles
Industrial Center consists of three multi-tenanted
Class B flex space buildings containing 129,566 SF
and land suitable to develop another 80,000 SF. The
previous owners negligent handling of the property's
leasing and unwillingness to spend money to maintain
and improve the buildings resulted in
underperformance of the property, and gives us ample
room to create value and enhance performance, which
we feel is achievable.
In order to satisfy
tenants and increase rents, improvements will be
made to the physical plant, cosmetic look, and the
name will be changed. As a result of improved
leasing and operations we expect the current NOI to
increase by 33% within two years. BAF is an
investment partner in this property. |
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