Home Properties Focuses Almost Exclusively on DC, Baltimore

WASHINGTON, DC-New York-based Home Properties has picked up three new properties–two of which are in the DC area. The two transactions, which total $173.1 million, make up a considerable portion of the $325 million that was set aside in its guidance for acquisitions here. In fact, Home Properties invested nearly the entire $325 million in the DC and Baltimore area, except for one property that it just acquired in Brookhaven, New York for $31.3 million.

It is possible the company may acquire additional properties beyond its guidance, Charis Warshof, head of investor relations, tells GlobeSt.com. Baltimore and the DC area “are markets that we like very much,” she says. Besides its acquisition spree, the company also recently delivered two apartment buildings in Silver Spring, MD and Huntington, VA that it is starting to lease. Warshof says the company has nothing specific in the pipeline.