BALTIMORE, MD — San Francisco-based real estate investment firm Hamilton Zanze announced the purchase of Echelon from Odenton Apartments, their 14th acquisition in the state of Maryland. The company closed the deal on this Class A property on June 28, 2022.
The Echelon at Odenton property is a garden-style community built in 2016 on 6.6 acres. The property was 97% occupied at the time of purchase and consists of a one-storey central pavilion and two five-storey residential buildings. These units range from 759 square feet to 1,456 square feet. The community includes several high-end amenities such as a state-of-the-art theater, barbecue and grilling areas, clubhouse, TV lounge and bar, playground, game room, swimming pool, storage covered bicycles and many others. Unit amenities include closet space, in-unit washer/dryers, stainless steel appliances, walk-in closets, loft floor plans, high ceilings, and more .
“We are excited to further expand our presence in Maryland with the purchase of Echelon in Odenton,” said David Nelson, chief investment officer of Hamilton Zanze. “The 2016 mid-size community offers best-in-class amenities, a central location near the state of Maryland’s largest employers like Fort Meade, and close to an abundance of retail and entertainment in downtown Baltimore. This property is in a strong position due to its stable, high-income tenant base in critical roles in military and government positions.”
The property is located at 315 Nevada Avenue in Odenton, in the Baltimore metropolitan area. Its position within the Baltimore MSA provides easy access to major job markets and entertainment options. There are 10 Fortune 500 companies based in Metro Baltimore, including McDonalds, DISH Network, Dollar Tree, and International Paper. Odenton is also a top regional destination for locals and tourists alike, as it offers many unique restaurants, cafes, outlets, rides and events. With this latest acquisition, HZ now owns and operates six properties in the Baltimore market.
HZ’s capital improvements will include site and landscaping improvements, amenity updates, unit maintenance repairs, and sustainability implementations. Management of the property has also been transferred to Mission Rock Residential, a subsidiary of HZ, a Denver-based company.