CREC Real Estate, a private equity real estate investment firm, has successfully sold Orchard Meadows Apartments in Ellicott City, Maryland. The 240-unit multifamily community was acquired by CREC in 2018 and underwent renovations to improve its operational performance. This sale is the third successful transaction for CREC’s first real estate fund out of seven investments.
Orchard Meadows offers a variety of units including two-bedroom garden apartments built in 1998 and one- and two-bedroom units added in 2012 with high ceilings. The community boasts desirable amenities such as a swimming pool, outdoor entertainment area, fitness center, grilling area, playground, dog park,and Amazon HUB packaging locker. Parking is available on the surface lot.
The recent change of ownership for these Maryland multifamily apartments marks another milestone for CREC Real Estate’s successful portfolio management strategy.
