The Peterson Companies Acquires Crosswinds And Mariner Bay Multifamily In Annapolis For $160M

The property asset involved in this transaction is a multifamily development located at 1910 Towne Centre Boulevard in Annapolis, MD. The buyer, The Peterson Companies, acquired the property as part of a larger transaction involving multiple assets totaling $160 million. The specific asset Crosswinds consists of 215 units and is part of the Annapolis Town Center market.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $160,000,000
• Buyer: The Peterson Companies
• Units: 215
• Price Per Unit: $744,186

The Peterson Companies executed a strategic acquisition, securing Crosswinds and Mariner Bay in Annapolis Town Center, with Crosswinds priced at $73 million and Mariner Bay, which has 205 units, trading for $87 million. This acquisition aligns with the company’s growth strategy and enhances their portfolio within the Annapolis market.