BALTIMORE, MD—Philadelphia-based Delancey Street Capital has acquired the Sail Cloth Factory Apartments building here, a 107-unit loft style apartment community located next to the University of Maryland Medical Center and University of Maryland. The company acquired the property for $12.9 million from a private seller. CBRE brokered the transaction.

The building was constructed from 1888 to 1911 and then, as its name suggests, served as a manufacturing plant for sail cloth used by mariners and machine belts. The building was converted to loft apartments in 1986, and upgraded in later years.

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