Jones Lang LaSalle Inc.

04/01/2021 | Press release | Distributed by Public on 04/01/2021 14:36

Element luxury apartments in Baltimore sold

WASHINGTON D.C., April 1, 2021 - JLL Capital Markets announced today it has closed the sale of Element Linthicum Heights ('Element'), a luxury apartment community located just outside of Baltimore, Maryland.

JLL worked on behalf of the seller, JLB Partners, to complete the sale to the buyer, AvalonBay Communities, Inc.

Element comprises one- and two-bedroom floorplan options with high-end features, including spacious walk-in closets, in-unit washers and dryers, 9' ceilings, sustainable and stainless-steel appliances and quartz or granite countertops. Residents benefit from various amenities, such as a pool, outdoor lounge and entertainment areas, courtyard with hammocks, grilling area, fitness center with CrossFit equipment, clubroom and pet park and spa.

Located at 820 Concorde Circle, the apartments are in Linthicum Heights. The property is near Baltimore Inner Harbor Area, less than 10 miles from Downtown Baltimore and less than 30 miles from Washington D.C., benefiting from the cities' key employment and entertainment hubs. Capturing increasing demand in the region, Linthicum Heights, itself, is home to various employers and is also centrally positioned in close proximity to BWI Airport, which recently underwent a $125 million expansion and is a key economic driver in the area. Additionally, the property is proximate to Baltimore-Washington Parkway, I-195, I-95, I-97 and MARC Rail's Penn Line, which allow regional access via car or public transit.

The JLL Capital Markets team representing the borrower was led by Senior Managing Directors Walter Coker and Brian Crivella and Director Robert Jenkins.

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients - whether investment sales advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.

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