COLLEGE PARK, MD—Keane Enterprises has sold 4700 Berwyn House Rd. to Atlanta-based Wood Partners, who plans to develop the property into a seven-story, 275-unit apartment house.
The property is located in the middle of College Park, close enough to, but still separate from the University of Maryland campus.
The developer plans to build class A market-rate housing, aimed at both students and young working adults, according to Scott Zimmerly, director at Wood Partners.
Construction is scheduled to begin in October.
Bruce Levin, Andrew McAllister, and Caren Garfield of MAC Realty Advisors brokered the sale.
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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.
