{"id":1004108145,"date":"2014-11-21T12:33:23","date_gmt":"2014-11-21T20:33:23","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=308288"},"modified":"2020-05-05T00:39:38","modified_gmt":"2020-05-05T08:39:38","slug":"hampshire-properties-buys-the-seasons-at-bel-air-apartments-for-80m-2","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/hampshire-properties-buys-the-seasons-at-bel-air-apartments-for-80m-2\/","title":{"rendered":"Hampshire Properties Buys The Seasons At Bel Air Apartments For $80M"},"content":{"rendered":"

By Adrian Maties, Associate Editor<\/em><\/p>\n

\"\"<\/a><\/p>\n

Seasons At Bel Air<\/p>\n<\/div>\n

Another Greater Baltimore area apartment community has recently changed hands. CBRE Capital Markets announced last week that Hampshire Properties paid $80 million to buy the Seasons at Bel Air garden community.<\/p>\n

The property is located at 955 Sablewood Road, in Bel Air. It was constructed in three phases, between 1975 and 1985. Seasons at Bel Air features 732 one- and two-bedroom apartments, ranging in size from 683 square feet to 1,123 square feet. According to the\u00a0website<\/em><\/a>, units in the community rent between $871 and $1,156 per month. Amenities include an athletic field, tennis courts, an olympic-size swimming pool and multiple playgrounds. The property was 94 percent occupied at the time of the sale.<\/p>\n

William Roohan, Michael Muldowney, Brian Margerum, Michael Rudolph, and Martha Hastings, of CBRE\u2019s Investment Properties Multi-Housing Group, represented the seller in the transaction. Real estate website PropertyShark<\/em><\/a> <\/em>names Lsref2 Oreo2 LLC as the previous owner of the Seasons at Bel Air. David Webb, Jamie Butler and Maxi Thiels of CBRE\u2019s Debt & Structured Finance Group represented Hampshire Properties for the first mortgage of $63 million.<\/p>\n

\u201cWithin a five-mile radius of Seasons at Bel Air, the 2014 estimated average household income is an impressive $113,730, 60 percent higher than the national average,\u201d William Roohan, vice chairman of CBRE Capital Markets, said in a press statement. \u201cThe difference in rental rates between Class A and Class B properties in specific submarkets continues to favor investors who take advantage of renovation and repositioning opportunities like Seasons at Bel Air.\u201d<\/p>\n

Photo credit: <\/em>Ross Companies<\/em><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Another Greater Baltimore area apartment complex has recently changed hands. CBRE Capital Markets announced last week that Hampshire Properties paid $80 million to buy the Seasons at Bel Air garden community.<\/p>\n","protected":false},"author":925,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1579,21742],"tags":[],"class_list":["post-1004108145","post","type-post","status-publish","format-standard","hentry","category-baltimore","category-latest"],"acf":[],"yoast_head":"\nHampshire Properties Buys The Seasons At Bel Air Apartments For $80M - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/hampshire-properties-buys-the-seasons-at-bel-air-apartments-for-80m-2\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Hampshire Properties Buys The Seasons At Bel Air Apartments For $80M\" \/>\n<meta property=\"og:description\" content=\"Another Greater Baltimore area apartment complex has recently changed hands. 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