| Multifamily assets in Baltimore are as desirable as the area's famous blue crab (and that's saying something), says Patrick Boyle, assistant VP of Walker & Dunlop. Positive net absorption has driven down the vacancy rate in Baltimore to nearly 5.1%. ?It's a strong market, influenced by the government, its close proximity to DC healthcare, as well as an expanding biotech industry.? Investors' demand for financing has been strong since Q3 2010, with $250M in transactions taking place over four deals in the Baltimore market. As for new construction, approximately 700 units are expected to be delivered in the next two to three months, which is good news, just in time for spring. For more info on Walker & Dunlop, go here. |
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