FPA Multifamily Acquires 345-Unit Residential Community In South Baltimore For $73 Million

1901 South Charles Street is a two-property, 345-unit residential community located in South Baltimore, MD. The asset is certified LEED Gold and was sold for $73 million, reflecting a price per unit of $211,594. The transaction was completed with an existing HUD loan assumption and achieved an occupancy rate of approximately 95% at the time of the sale.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $73,000,000
• Address: 1901 South Charles Street
• Market: Baltimore, MD
• Units: 345
• PPU: $211,594
• Buyer: FPA Multifamily
• Seller: Benefit Street Partners Realty
• Brokers: Drew White, Brian Crivella, Carter Wood, Bill Gribbin, Yalda Ghamarian & Cole Carns - Berkadia

The transaction closed on September 11, 2025, with Berkadia acting as the representative for the seller, Benefit Street Partners Realty. The involvement of multiple brokers reflects a collaborative effort to facilitate the transaction between the buyer and seller in this multifamily property deal.