WASHINGTON, D.C. – HFF announced today that it has closed the sale of The Haven at Odenton Gateway, a 252-unit, Class A, garden-style multi-housing community in Odenton, Maryland.
HFF marketed the property on behalf of the seller, Johnson Development Associates, Inc. AEW Capital Management, LP purchased the asset free and clear of existing debt on the property.
The Haven at Odenton Gateway is located 615 Carlton Otto Lane providing immediate access to Fort Meade as well as major commuter arteries in the Baltimore-Washington Corridor including Maryland Route 32, Interstate 95, Interstate 97 and the Baltimore-Washington Parkway. Completed in 2012, the property includes one-, two- and three-bedroom units averaging 1,031 square feet each. Community amenities include a resort-style saltwater pool, poolside cabana equipped with fireplace and big-screen television, fitness center, private theatre room, conference room, clubhouse with coffee bar and gourmet kitchen, dog run and car care center.
The HFF team representing the seller was led by senior managing directors David Nachison and Alan Davis and director Brenden Flood.
“The recent large-scale relocation effort by the Department of Defense to Fort Meade, which is less than a 10 minute drive from the property, will only help to further ensure the long-term success of this well-located, luxury community solidifying the strength of this investment,” commented Davis.
Johnson Development Associates, Inc. (JDA) is an industrial and multifamily real estate development company based in South Carolina. JDA has developed more than 3500 apartment units and has a pipeline of more than 2000 additional units either under construction or slated for construction commencement in 2013. Specializing in top-of-market garden and mid-density apartment communities built on property neighboring dynamic retail centers or medical campuses; JDA has become an active developer of this product across the southeastern United States.
Founded in 1981, AEW Capital Management, L.P. (AEW) provides real estate investment management services to investors worldwide. One of the world’s leading real estate investment advisors, AEW and its affiliates manage more than $35 billion of capital invested in $49 billion of property and securities in North America, Europe and Asia (as of March 31, 2013). Grounded in research and experienced in the complexities of the real estate and capital markets, AEW actively manages portfolios in both the public and private property markets and across the risk/return spectrum. AEW and its affiliates have offices in Boston, Los Angeles, London, Paris, Singapore, Seoul and Hong Kong, as well as additional offices in nine European cities. For more information please visit www.aew.com.
HFF (Holliday Fenoglio Fowler, L.P.) and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 21 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing. For more information please visit www.hfflp.com or follow HFF on Twitter at www.twitter.com/hff.