BALTIMORE – Transwestern Real Estate Services (TRS) announces its Mid-Atlantic Multifamily Group has been retained to sell The Glen Burnie Apartment Collection, a three-asset, 467-unit multifamily portfolio in Glen Burnie, Maryland. The properties include Gatewater Landing totaling 263 units, Annabal Apartments totaling 150 units, and Glen Burnie Town Apartments totaling 54 units and one commercial space. Transwestern’s Robin Williams, Dean Sigmon, and Michael D’Amelio are marketing the properties on behalf of the owner, Gelfund Real Estate Opportunities.
“The portfolio offers investors a superior opportunity to acquire three well-maintained, stabilized communities with tangible upside potential by leveraging the in-place value-add program at Gatewater Landing and Annabal Apartments, which have demonstrated a strong return on investment,” said Williams. “Offering the properties for sale individually or as a portfolio allows new ownership to capitalize on management efficiencies and economies of scale.”
According to Transwestern research, the Northeast Anne Arundel County submarket reported effective rent growth of 2.5% for the 12 months ending March 31, 2025. The submarket’s vacancy rate of 4.8% remains among the lowest in the Baltimore-Columbia-Towson apartment market. Ranked 46th among the counties with the highest median household income in the nation in 2023, at $120,324, Anne Arundel County is the sixth highest income county in Maryland and reported a 2.9% unemployment rate as of February 2025.
“The opportunity to acquire high-performing value-add multifamily assets with no imposing rent control regulations and strong rent collections is extremely compelling,” said Sigmon.
More information about The Glen Burnie Apartment Collection is available here.
About Transwestern Real Estate Services
Part of the Transwestern companies, Transwestern Real Estate Services (TRS) strives to add value for investors, owners, and occupiers across all commercial property types. Fueled by a holistic perspective of the real estate life cycle, agility and creativity are hallmarks of our approach, while vast national resources and sound market intelligence underpin customized recommendations and property solutions.
Four dynamic, integrated companies make up the Transwestern enterprise, giving us the perspective to think broadly, deeply and creatively about commercial real estate. Clients and investors rely on us for expertise that spans institutional and opportunistic investment, development, hospitality, and brokerage and asset services. Our award-winning, collaborative culture empowers team members with resources and independence to work across boundaries in pursuit of innovative solutions, reinforcing a reputation for service excellence that translates to measurable results. Through offices nationwide and alliance partners around the globe, we positively impact the built environment and our communities while fostering a work climate that champions career vitality for all. Learn more at transwestern.com and @Transwestern.
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