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BALTIMORE-Plans for Berkshire Income Realty Inc. to acquire Pelham Wood Apartments, a 464-unit garden-style apartment property in the Baltimore suburb of Parkville, have been scrapped. The Boston-based REIT will exercise the Buyers Right of Termination clause included in the agreement with seller Pelham Wood LLP.

Berkshire had announced its plan in March to purchase the property for $30.2 million. The announcement also included the company’s intention to acquire another suburban Baltimore property from a different owner.

In explaining its decision, Berkshire reasoned that the acquisition would not be in the best interests of the company. The main mission of Berkshire, which has a notable presence in the Baltimore and Metropolitan Washington, DC area, is to acquire and rehabilitate multifamily properties.

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