Northmarq, a Minneapolis-headquartered capital markets resource for commercial real estate investors, has completed the $54 million sale of The Current at Watershed, a 97-unit build-to-rent community in Laurel, Maryland.
Built in 2023 and located 19 miles south of downtown Baltimore, The Current at Watershed offers three-story, three-bedroom townhomes with an average home size of 1,407 square feet. The LEED Gold-certified community offers residents a resort-style pool, clubhouse, pickleball court, fitness center, co-working space, dog park, yoga studio, and dynamic trails and outdoor space.
Northmarq represented the seller in the transaction.
“Build-to-rent acquisition opportunities remain scarce within the D.C.-Baltimore area and the greater Mid-Atlantic region at this time,” said Ari Azarbarzin, senior vice president at Northmarq. “The offering commanded significant investor interest because of the property’s superior construction, luxury townhome features, and ideal location just off Interstate 95.”
