Crystal Park at Waterford Apartments
100 Alessandra Court, Frederick, MD 21702
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%