A team from Northmarq, led by Ari Azarbarzin, has successfully sold The Current at Watershed for $54 million. This build-to-rent community consists of 97 units and is located at 3101 Runnel Lane in Laurel, Maryland. The property is situated in Anne Arundel County and is just a short drive from downtown Baltimore.
Northmarq represented the seller in this transaction with the help of Chris Doerr, Jack Brocato, Will Harvey, Shack Stanwick Wallace Halpert and Anthony Pino.
According to Azarbarzin: “Opportunities to acquire build-to-rent properties are limited within the D.C.-Baltimore area and surrounding Mid-Atlantic region currently.” However, due to its high-quality construction materials and luxurious townhome features along with its convenient location near Interstate 95,the property garnered significant interest among investors.
Built in 2023,the three-story townhomes at The Current offer three bedrooms each with an average size of approximately1 ,407 square feet.The community provides easy access for commuters traveling between Baltimore,Washington,and Annapolis on a daily basis.
