Maryland apartments sell for nearly $20 million

American Community Properties Trust, through its subsidiary American Housing Properties, acquired two apartment properties totaling 307 units in Pikesville, Md.

The total value of the transactions was approximately $20 million.

American Housing purchased the Owings Chase and Prescott Square apartment properties in Baltimore County. Owings Chase consists of 234 units on 14 acres built in the mid-1960s, including 145 two-bedroom units and 89 one-bedroom units.

Prescott Square is a 73-unit community on 4.3 acres built in 1967-68, and consists entirely of two-bedroom, two-bath units.

The properties were purchased from Owings Chase Associates LP and Prescott Square Associates LP through Sawyer Realty Holdings LLC.

ACPT is a diversified real estate organization with operations in Maryland and Puerto Rico that specializes in community development, investment apartment properties, home-building, and asset management services.

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