Crystal Park at Waterford Apartments

100 Alessandra Court, Frederick, MD 21702

Property Overview

Crystal Park at Waterford is a 314-unit garden-style apartment community located in Frederick, Maryland. The community was constructed in 1990 and was 93 percent occupied at the time of purchase. This acquisition is a Class B+ core investment opportunity for KBS Legacy Partners Apartment REIT (Apartment REIT).

Crystal Park at Waterford is situated on 16.34 acres and boasts spacious floor plans ranging from 756-square-foot one-bedroom units to 1,150-square-foot three-bedroom units with an average unit size of 920 square feet. The in-unit amenities include private balconies and patios, separate dining areas, fireplaces and vaulted ceilings in select units. The community offers a 24-hour state-of-the-art fitness center, tennis courts, a clubhouse with wireless Internet and an outdoor swimming pool and hot tub.

Investment at a Glance

Location: Frederick, MD

Property Type: Apartment Community

Acquisition Date: May 8, 2013

Purchase Price: $44,900,000

No. of Buildings: 12

No. of Stories: 2 and 3

No. of Units: 314

Square Footage: 288,954

Year Built: 1990

Leased Percentage (at the time of Acquisition): 93%

$44,900,000 Total Purchase Price
288,954 square feet Total Rentable Area
314 Unit Apartment Community