Updated May 12, 2025
Peterson Cos Acquires Multifamily Properties At Annapolis Town Center From PGIM For $160M
1903 Towne Centre Boulevard & 1910 Towne Centre Boulevard
$160,000,000
Building Size
—
Asset Type
MultiFamily
Closing
Mar 20, 2025
About this deal
AI
The transaction involves the sale of multifamily assets located at 1903 Towne Centre Boulevard and 1910 Towne Centre Boulevard in Annapolis, MD. The sale price for these properties was $160,000,000. The acquisition is part of a strategic expansion of the buyer's residential portfolio in the mid-Atlantic region.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $160,000,000
- Buyer: Peterson Cos
- Seller: PGIM
Peterson Cos acquired the properties known as Crosswinds and Mariner Bay at Annapolis Town Center from PGIM, enhancing its presence in the residential market. This deal marks a significant addition to their portfolio in the area.
On the Map
$160,000,000
MultiFamily
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Players
Annapolis MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.10%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93