MILLERSVILLE, MD—Boston-based Berkshire IncomeRealty has sold three apartment buildings in Maryland fora total of $90.3 million. The REIT made referenceto the sales in its recent earnings call. Namely, it reported thatsince October it has sold three properties,Yorktowne located in Millersville andCountry Place I and Country PlaceII, located in Burtonsville.


In addition, a source tells that HarpersMill, another multifamily property Berkshire owned inMillersville, traded for approximately $25 million. The source saidQuest Management acquired Harpers Mill, 144-unit garden apartmentcommunity built in 1987 and Yorketowne, a 240-unit midrise built in1985, for a total of approximately $58 million.


Berkshire Income has made seven other sales this year, most ofwhich were in Texas: Chisholm Place and Bear Creek, both located inDallas, Texas; Laurel Woods located in Austin, Texas; andBerkshires on Brompton located in Houston, Texas.


It also sold Lakeridge and Bridgewater on the Lake located inHampton, VA, and The Reserves at Arboretum Place located in NewportNews, VA. The sales price for the seven properties totaled $161.2million, with the REIT recognizing proceeds of $84.1 million.

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Erika Morphy

Erika Morphy has been writing about commercial real estate at 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.