Acquired in September 2019, Capital Crossing is a 359-unit garden property located in Suitland, MD (D.C. Metro). CLP was able to secure the opportunity through a personal relationship with the seller, despite significantly higher offers received through a very competitive bidding process. The property provides proven value-add upside through unit renovations demonstrated both by the seller and direct competitors.
CLP acquired Trantor Place, a rent-stabilized garden apartment complex comprised of 16 low-rise apartment buildings and 177 units in January 2011. Located in the Port Richmond neighborhood of Staten Island, NY, the complex is surrounded by landscaped grounds, abundant parking, and easy access to major highways and public transportation. CLP successfully sold Trantor Place in January 2015.
In April 2014, CLP purchased Midpointe Apartments (re-branded from Southgate Apartments), a 424-unit apartment community located in the Mount Greenwood section of Chicago, IL. The property, comprised of eight four-story elevator buildings, is located in an urban infill, supply-constrained sub-market catering to a suburban living environment. CLP successfully sold Midpointe Apartments in February 2018.
222 Saratoga is an 80-unit property located in downtown Baltimore, MD. Originally built as a warehouse in 1916, the property boasts the largest units in the sub-market and features a unique loft feel with 10 to 15-foot ceilings. It is the only property in the sub-market with private balconies and is ideally located just a few blocks from major employers and the retail and recreation of Baltimore’s Inner Harbor. Building amenities include a covered parking garage, fitness center, business center, resident lounge, and an outdoor patio with grilling stations and seating.
Watergate Pointe is a 21-building, 608-unit apartment community that sits on an expansive park-like 31-acre peninsula. It features panoramic water views, a 162-slip marina with fishing docks, and is located within walking distance of historic downtown Annapolis, MD. As the only property in its submarket with 3,000 linear feet of water frontage, Watergate is unrivaled in terms of location and offers residents true resort-style living. Community amenities include an Olympic style pool, fitness center, children’s playground and sports court, dog park, business center, and conference room, and outdoor kitchen and grilling stations. Units feature vaulted ceilings, fully appointed kitchens with granite countertops, renovated bathrooms, expansive balconies, washer/dryers in select units, and vinyl plank flooring.
Harbor Pointe is a 544-unit, Class A luxury waterfront apartment community located on New Jersey’s prestigious Gold Coast. Built-in 2010, the property features views of downtown Manhattan and an array of modern amenities including a 9,000 square foot clubhouse with a computer lounge, media lounge, business center, fitness studio, indoor basketball half-court, children’s playroom, and a resort-style saltwater pool. The property is also LEED Silver certified for energy efficiency and environmental friendliness and offers direct access from every floor to a 7-story parking garage.