ODENTON, MD-AEW Capital Management, LP has purchased The Haven at Odenton Gateway, a 252-unit, garden-style multi-housing community here for an undisclosed price. The property traded free and clear of debt. Johnson Development Associates was the seller. It was represented by HFF's David Nachison, Alan Davis and Brenden Flood.
The Haven at Odenton Gateway is located at 615 Carlton Otto Lane. A class A complex, it features one-, two- and three-bedroom units averaging 1,031 square feet each as well as such amenities as a saltwater pool and poolside cabana, dog run and car care center. For investors, though, the primary lure is no doubt the apartment's proximity to Fort Meade. "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" property, Davis says in a prepared statement.
It is not just apartment space near Fort Meade that is experiencing a surge of interest. An earlier report by JLL shows that office space as well is moving more quickly here than elsewhere in the general area.
Office space in the submarkets of Columbia and BWI/Anne Arundel stayed on the market for shorter periods of time.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
