Home Properties, declared that it has bought a White Marsh, Maryland located apartment community. Like any other acquisition, this purchase is also expected to increase the earnings of the company.
The apartment community at Cambridge Court consists of 544 units and situated in the center of White Marsh, Maryland. Nearly 92.2% of the property is occupied and earns a monthly average rent of $1,314. The community located centrally in eastern Baltimore County is located within two miles distance from the I-695 (Baltimore Beltway) and around 10 mi from the business district of Baltimore and it has straight access to I-95.
Cambridge Court. Credit: Home Properties
The apartment community is nearer to corporate campuses and important employment centers. It is located next to White Marsh Town Center, a retail complex, which has 190 specialty shops and five anchor stores. The area witnesses around 21% population increase between 2000 and 2010 population census.
The apartment units comprise a total of 544 units placed in 18 three-storey garden style constructions – 432 units and two four-storey medium rise buildings with 112 units. The buildings were constructed using concrete slab and poured bases, wood-frame construction and brick and vinyl sided. The inclined roofs are built with ornamental gabled extension overlaid with asphalt shingles. The community comprise of 54 three-bedroom units, 272 two-bedroom units and 218 single bedroom units with an average size of 962 sq. ft. Each property unit will have 100 amp electric service and PVC plumbing and provided with individually metered electricity service and gas-fired hot air units.
Other amenities in the community include fire places, in-unit washers and dryers carports, dog-park, playground for children, community gardens, fitness center, clubhouse, and swimming pool.
Source: http://www.homeproperties.com/