TD&A ENTERS MULTI-FAMILY WITH “OFF-MARKET” SALE OF 199 UNIT ROSEMONT GARDENS

Rosemont Gardens is 199-unit multifamily property located in Baltimore City near Coppin State University. While selling a property for a client our agent inquired what other properties that client might want to sell. Rosemont Gardens was identified as a potential “off-Market” sale opportunity. The agent was working with a regional Low Income Housing Tax Credit (LIHTC) Developer who had expressed interest in acquiring additional multi-family properties. The agent vetted the developer and discovered that their success rate in obtaining LIHTC awards was almost unmatched in the State of Maryland. Based upon the past success an introduction was made to the owner that led to a contract. The developer was eventually awarded the tax credits and closed on the purchase almost 1 year later.