Halstead at Guilford
Baltimore, Maryland
The DSF Group acquired and redeveloped this 14 story 228 unit multi-family apartment building in an affluent largely single-family residential neighborhood in Baltimore.
Investment Opportunity
With its prime residential location in the Guilford neighborhood, one block from the Johns Hopkins University campus and five blocks from the Loyola of Maryland campus, the property is in a much sought after location. Based on our market research we decided that an upgraded and modernized rental apartment building with first-class amenities at this location would be well received.
Value Added Strategy
DSF decided to renovate the common areas and lobby as well as to create a highly attractive amenity package with a modern media room, fitness area, library and billiard/T.V lounge. Then we upgraded all the unoccupied units. In the top Club floors the units have new stainless steel appliances, granite countertops, new vanities and track lighting while the other renovated units have been improved as well, but not to as high a level. Now the building is 99% leased and the return on our renovation costs has been compelling as we have been able to increase rents significantly as we’ve upgraded the units.