New York-based Hirschfeld Properties has acquired the Rosemont Towson, an 828 unit multi-family apartment complex located at 6920 Donachie Road in Towson. Hirschfeld is in a joint venture on the purchase with PCCP.
Towson continues to be the hot ticket in Baltimore’s multi-family market. Rosemont Towson is a 16 story apartment tower surrounded by 36 three-story garden apartment buildings, and is the latest of several large acquisitions in the Baltimore market by out-of-town groups. No details were released on the purchase price or terms of the deal.
A substantial renovation is planned through the Hirschfeld Building Construction Co. and onsite management has already been taken over by Hirschfeld Management. Residents will get all-new amenities including a fitness and yoga studio, pet spa, dog park, outdoor grilling area, indoor kids playroom and an outdoor playground. The existing pool area gets a beach-style bar and a kids’ splash pad.
The purchase solidifies Hirschfeld’s local portfolio, now totaling 5 different properties, and adds to Baltimore County and Towson’s reps as viable mixed-use purchase targets for investors.