BALTIMORE-A real estate investment trust based in Chicago has closed its first acquisition deal in Baltimore. Pangea Properties has bought 42 rental apartment units in three buildings in West Baltimore’s Walbrook neighborhood.

The Walbrook units are the first properties for the trust on the East Coast. Pangea Properties did not disclose the addresses of the buildings or the purchase price. In the next two years, the company is planning to spend between $50 million and $100 million in apartment units in Baltimore. For the full story, go to Baltimore Sun .


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