February 4, 2020
Maryland-based real estate firm Blue Ocean has acquired The River Front Apartments in Savage, MD. The 144-unit waterfront community is located approximately 19 miles southwest of Baltimore and 25 miles northeast of Washington D.C. The sales price was not disclosed.
The community sits along the banks of the Little Patuxent River, and is located nearby the Historic Savage Mill Shops & Dining. Blue Ocean plans to make meaningful quality of life improvements across the property to make the asset a premier residential apartment community in the area.
Dean Sigmon, Robin Williams, Justin Shay and Michael D’Amelio of Transwestern’s Mid-Atlantic Multifamily Group represented the undisclosed seller in the transaction.
“As real estate investors, we work tirelessly to identify high quality opportunities, with value-add elements, that are also exceptionally located,” said Jonathan Ehrenfeld, CEO at Blue Ocean. “The River Front Apartments checks all of the boxes for us. I’m extremely proud of our team and equally thrilled to expand the Blue Ocean portfolio into Howard County.”
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