The Edge Multifamily Capital Markets Group has brokered the sale of Shelter Cove, a 300-unit multifamily community in Odenton, Rawles Wilcox, Ryan Ogden and Jared Emery, partners with Edge Multifamily Capital Markets, represented buyer FPA Multifamily in the acquisition of the complex from The Goldstar Group.
Delivered in 1973, Shelter Cove Apartments – now known as ReNew Odenton – is located approximately three miles from the entrance of Fort Meade and is adjacent to the intersection of Routes 32 and 175.
Headquartered in San Francisco, FPA Multifamily is a real estate operating company which facilitates apartment acquisitions, dispositions and asset management activities for its institutional investors. The firm has completed transactions totaling more than $20 billion in investments for more than 700 buildings, in excess of 130,000 units.
“The multifamily asset class continues to generate significant institutional investor interest and we anticipate an extremely robust 2022, based on the activity of the past year and strong fundamentals that continue to persist in the greater Maryland; Washington, D.C. and Northern Virginia region,” said Rawles Wilcox, partner with Edge Multifamily Capital Markets.